Rental rates increased 1% during the third quarter to an average of $1,111 a month nationwide, according to Reis Inc., a real-estate research firm that collects data on 79 U.S. metropolitan areas. That was up 3.3% from the same quarter a year ago. Last quarter's 1% increase was faster than the second quarter's 0.9% rise.
Apartment rents have risen nationally for 23 straight quarters and are 15.2% higher than they were at the end of the recession in 2009. The figures suggest the five-year squeeze on renters shows little sign of easing.
Public servants like policemen, school teachers, firefighters may no longer be able to rent a home in your city. This is very concerning.
One of the primary reasons for rising rents is lower supply. Companies like Altisource are buying mortgages with an intent to acquire the property. They intend to renovate and offer these properties as luxury rental homes at unaffordable prices. They have also been steadily diverting homes to rental property management firms and investors through their website HUBZU.com.
HUBZU.com sell a large number of properties to real estate investors. They discourage individuals and families from acquiring homes by refusing to consider loan offers, by denying contingency period and by rigging auctions on their website.
Altisource and its partner in crime Ocwen sit on huge real estate inventories for a prolonged period. A careful study revealed that HUBZU.com take a very long time to sell properties. They prepare inaccurate reports for their clients indicating otherwise. They use this time to pay themselves various fees. Finally, they sell the homes to real estate investors who intend to rent the properties out.
An average Ocwen-Altisource employee cannot afford to rent an Altisource home unless they earn 'incentives' which are paid by the company to employees who help exploit homeowner interests. That says it all. If you are not willing to participate in an economy that exploits others, then you have no place in the world that Ocwen Chairman William Erbey and his bankster friends are trying to create. You will be pushed out of your home through trickery. You will be paid poorly and you will not be able to make ends meet unless you participate in William Erbey's grand economy of exploitation.
In such a world, nobody will act against antisocial organizations like Ocwen. They will rule. Governance will be incorporated and outsourced to individuals brainwashed through a corporate sponsored education system.
It is time for HUD to ban Ocwen, Altisource and all other entities associated with William Erbey from acquiring as well as servicing loans that are auctioned by HUD.
It is also necessary to immediately arrest William Erbey, Ronald Faris and William Shepro along with their bankster friends.
Please follow the link and ask President Obama to appoint an Attorney General who will jail bankers!
Please fill in your details, select Justice Department and copy paste the below mentioned text on to the comment box:
"Honorable President Obama,
I am requesting you to appoint an Attorney General who is willing and able to jail bankers and foreclosure kingpins like William Erbey, Ronald Faris and William Shepro.
Banks and lenders carried through fraud to every level of the mortgage process. They committed origination fraud through faulty appraisals and undisclosed trickery.
They committed servicing fraud through illegal fees and unnecessary foreclosures.
They committed securities fraud by failing to inform investors of the poor underwriting on loans they packaged into securities.
They committed mass document fraud when they failed to follow the steps to create mortgage-backed securities, covering up with fabrications and forgeries to prove the standing to foreclose.
Justice has not been served yet. Over five million victims are waiting to see bankers and loan servicers in prison."
http://www.whitehouse.gov/contact/submit-questions-and-comments
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