Some Choosing to Rent Out Homes Instead of Selling

Green Escrow | Rental

A recent article in the San Francisco Chronicle highlighting, once again, how Bay Area housing prices continue to rise while inventory remains disconcertingly low, made the point that some who are moving are choosing to rent out their homes rather than sell them.

And, in many cases, rents are high for modest homes, often in the $4000 to $6000 range. Moreover, adult children who are inheriting homes are likewise holding on to them and renting rather than selling.

Analysts pointed out that this is occurring mostly in San Francisco, Marin, and the Peninsula while East Bay residents looking to move are selling their homes.

Finally, the article pointed out the drastic shift in Oakland where the buying frenzy continues.