Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Businessweek Archives

What Happens to the Renters?

In researching our recent cover story on builder price cuts I met Sara Evans, a bartender at the ESPN Zone on the Las Vegas Strip who was packing up a Budget rental truck at her home in the Vegas subdivision of Huntington. Evans said she got wind that her landlord and his partner were going to lose the three bedroom home she was renting and so Evans and her two roommates were moving out.

Evans said she felt sorry for the landlord, a healthcare aid who went into partnership with a Realtor to buy the property. She said she didn’t think the $1,400 a month in rent the three were paying was covering the mortgage. “I think this was his first real estate investment,” she said glumly.

A sign in the home next door advertised that it was for rent. Evans said it had been empty for the entire year that she’d lived in the community. The owner was asking $1,350 a month for a three bedroom house, likely less than his mortgage.

Evans says she’s found a new home not far away owed by a woman who’d bought it for her daughter who was having trouble making the payments. Evans and her little brother are renting the much bigger house for $1,500 a month. She and her new landlord have discussed renting with an option to buy.

Elswhere in the Huntington subdivision I spoke to broker John Izzo who’d just gotted a listing on a house that was about to be foreclosed on. A previous Realtor almost had a sale but it proved too difficult to coordinate the sale between the owner and the lenders that held the first and second mortgages. The owner lived in California and had been renting the house out. He hadn’t paid the mortgage in months. “He’s still collecting the rent checks though,” Izzo said.

blog comments powered by Disqus