While there are no statistics to prove it, a local real estate agent says they are seeing more home rentals in Preston Hollow than usual. The reason appears to be the economy and people losing businesses and having to file for personal bankruptcy.
“I’ve known of several people who have moved to Dallas to take high-paying jobs after losing their businesses,” said Kerry Thornhill, real estate agent serving Preston Hollow. “They can afford a high monthly rent, but their credit is now ruined, and they can’t purchase a home due to the tightened credit markets.”
He says there are no exact numbers of just how many homes in the area are being rented because many times people lease a house that has been on the market for a while. Since it was never listed as a rental property, it is just withdrawn from the market.
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