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2010-08-04 — doctorhousingbubble.com
``I think some are misguided because the current price jump from last year signifies a creeping mentality of flipping again. Call it the HGTV syndrome. To buy and hold, you need to have a suitable employment base. From talking with some investors buying out here you know many are getting into something they have little idea about. They see consistent monthly rent checks yet it is anything but... Many are now realizing that a home is really only as good as what surrounds it. This includes schools, neighbors, climate, and access to work. The idea that a giant McMansion is simply good enough is a flawed idea that is now going away. ''
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catherine at 09:20 2010-08-05 said:
I remember all the people bragging on the site in august 08 that they were buying up property for nothing - everywhere......................what was that.................TWENTY PERCENT DROP A..G...O........... to be honest I think it is scarier to write mortgages right now on property that could fall another 25% in some areas then it is to keep drilling in the gulf. I think a stoppage until rates stabilize is a better idea than worry over another drilling accident, every foreclosure leads to a financial disaster. -that is a given.......... more damage being done to the economy with foreclosures than the thousands of rigs out there......... and by only reporting half the unemployed numbers, the buyers of these units are operating on faulty kool-aid logic and like the article says, won't be too lucky in finding renters............... they also still forget that households are combining faster than they can count.........families and friends are downsizing and combining 2-4 households together in this economy. and I don't know about your areas but everyone AND ANYONE that can add a tax or fee in my city, county, state are raising them. And we all know the 25-30% tax present coming in January from the fed :shock: I don't know maybe buying up huge piles of real estate is a good thing to some people right now???? Permalinkadd a comment | go to forum thread
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