Vettezuki |
03-25-2013 06:28 PM |
After about six months and multiple attempts, looks like we're just going to stay put. The market is going bat shit crazy, and nothing makes sense much sense for us; junk places are going for well past $300k now.
Is it another bubble? This is harder to tell but in a sense, unfortunately, I don't think so in the sense the last one was. I got beat to an offer or outbid by people paying cash(!!) for 10%+ asking prices on several properties. Well, it ain't a credit bubble if people are paying cash. Now, how many cash buyers are there for real estate? Not so many. What *seems* to be happening is that supply is severely constrained and the rent market is crazy high, meaning investors can buy an asset that produces positive cash flow day one. If however, you're looking to buy in for the first time at anything vaguely approaching Orange County at the middle-middle class and above, lube up.
|