Folks: This is my new house, the fruit of daytrading (1995-2001) and real estate investment (2002-2005) -- http://www.lyonhomes.com/miradorattalega/homes/ I got the residence 3. You're all welcome to check out the house through the virtual tour. Just click on Tour the Mirador Model Homes. Have a great weekend!
During recent couple of weeks real estate discussions "all over" has spiked to an amazing level! Combine all this deafening noise with bonds persistence rally and Toll brothers numbers etc and you'll get a classic scenario of nearing an infliction point imo
it does feel a lot like jan-feb 2000 everyone and their brother buying in incredibly reckless lending standards people calling a top, but still getting scorched it will end when the last skeptic admits that this time it's different then it wont be
We probably are not at the top just yet, especially in specific regional hot markets and the fact that long term rates have not gone up much. However after 34 years investing in real estate, I'd rather talk about the money I didn't make, than the money I lost. Throughout my investing history, I have experienced some really tough times, as well as the good times presently. So I am selling all of my raw land, lots, and non income producing properties, and even my home. And keeping all of the income producing properties. Real estate is just like picking the top in a stock. How much further can it go no one knows. But for me, a good profit is enough. Good trading to you all.
Good point. I was talking about first time buyers or buyers w/o any equity. I've heard of people actually uprooting and coming to AZ for just that reason. A home is still affordable for the typical beginning middle class guy or even a well-paid working class individual...