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Homes in Pittsburgh Foreclosure Auctions Can Be Used As Rental Units



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By : Allana Castro    99 or more times read
Hundreds of properties are being offered at Pittsburgh foreclosure auctions, including properties that can be converted into rental units. This scenario is just one possibility that real estate market analysts are considering after the Housing Alliance of Pennsylvania reported that the state is currently facing a rental housing shortage.

A recent forum held in Cranberry, participated in by the alliance and other housing market experts, explored various suggestions for solving the for-rent property shortage in the state. According to some forum attendees, although home auctions in Pennsylvania offer a lot of properties that can be used as rental houses, enough supply cannot guarantee that the problem of affordability will be solved.

During the forum, representatives from the alliance have stated that renovating rental houses that are already in existence can help solve the rental housing shortage of the state. According to Housing Alliance officials, there is no need to build new rental homes as the stocks are already available and even home foreclosures auctions have enough supplies that can provide the required rental dwellings needed by most cities of Pennsylvania.

However, the main question that forum attendees tried to address has more to do with offering rental dwellings that low income families and state residents can afford and less about lack of property supplies. Pittsburgh foreclosure auctions, for example, have enough houses that can be converted into rental residences. The question is; can these properties, once converted into rental housing by their buyers, offer a rental rate that low income families can afford?

The suggestion by the alliance to focus on existing apartments and rental dwellings was welcomed by most forum attendees since a lot of apartment buildings in the state were built pre-1950s and it would be reasonable to upgrade them to cut down the shortage instead of building new apartments. Most attendees also stated that the state government should focus most of its efforts on helping landlords renovate their units to provide additional rental dwellings to various cities in Pennsylvania.

Furthermore, supporters of the alliance's recommendation stated that renovation projects will provide the state with a lot of economic activities and will offer significant savings. They also added that major cities are in need of subsidized for-rent homes and further assistance for homeowners who have lost their properties to Pittsburgh foreclosure auctions and other city auctions.
Original Post: Homes in Pittsburgh Foreclosure Auctions Can Be Used As Rental Units on Foreclosure-Auction.net.

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