| When you rent, most people mistakenly assume the | | | | the problem, and not to mention the fact that nearly |
| decision is made out of necessity, not rationality. But | | | | one million jobs lost since the recession began. This is |
| there is a very good reason to rent in today's | | | | occurring everywhere, not just the largest cities. |
| recession-stricken market: median incomes do not | | | | Umbrella Real Estate can still help you find a home. |
| support median home prices. | | | | Umbrella Real Estate realistically knows that real |
| The problem is not just the recession. The home | | | | estate is a good long-term investment. Unlike countries |
| prices that we are seeing today fluctuate or rise | | | | like Japan and the United States, the Philippines always |
| according to factors in the recession. Because of this, | | | | has been able to cope and adjust to any recession |
| home prices have deviated from the fundamental | | | | thrown at it. Although real home and property sales |
| formula that has always ruled the Philippine real estate | | | | are still slow in rising, rentals has seen a sudden surge |
| market. Median home prices increased by nearly 50 | | | | in real estate for the simple reason that home rentals |
| percent in the last decade. On the other hand, the | | | | is still within reach of the average Filipino median |
| median income has only gone up 10 percent in the last | | | | income. |
| ten years – a very meager increase compared to | | | | Umbrella Real Estate can help you save money. |
| the change in home prices. | | | | Renting a home you are comfortable living in for a few |
| Incomes simply cannot support the recession-inflated | | | | years will enable you buy a house later once the |
| prices. Filipinos earning the median income have no | | | | recession settles down and Philippine real estate picks |
| chance of reasonably affording a median priced home | | | | up again. So, it may be safe to say that home rental is |
| with a conventional home loan. | | | | a better option for some families. It holds true |
| In the past 5 boom years many borrowers did not | | | | especially in these trying times when every amount of |
| take out conventional financing to purchase their home. | | | | money spent has to be wisely considered. |
| Instead, they got caught up in the housing frenzy and | | | | Umbrella Real Estate is fast becoming the Philippines' |
| took out ultra-risky and sub-prime mortgages just to | | | | most recognizable name in Philippine real estate, |
| get into the market. The result has been many | | | | attracting hundreds of buyers every month. Our vast |
| foreclosures and a partial meltdown of the lending | | | | listings of Manila homes, Manila condominiums, Manila |
| industry. Now over 100 major and rural banks have | | | | property and even Manila rentals gives us a high edge |
| imploded since late 2006. Thus, these banks have | | | | in property searching. |
| tightened their lending standards and drastically cut the | | | | Our style of brokerage is completely unique and |
| pool of bona fide buyers. | | | | original. Everything is designed to give you better |
| Major overhaul is needed. Optimists like to argue that | | | | service. This has catapulted us as one of the top |
| the correction will not be national, but will instead be | | | | brokerages in the Philippines in the 21st Century. |
| limited to the most overpriced areas. While it is true | | | | If you are interested in renting a home, please visit us |
| that the most overpriced cities are likely to see the | | | | online at or you can call us direct at (02) 889 1817 |
| largest declines in prices, this is not the way to contain | | | | . |