Real Estate Speculation

Quote from Retired:

"Experts" have been saying that since 2001.

:D
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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
 
Quote from McCloud:

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
More...

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.
 
Quote from Retired:

ShoeshineBoy:

All the new home communities I have visited last weekend in SoCal were completely sold out, with priority lists as long as 900 people. They were all "non-contingent, fully qualified" buyers. The builders were jacking up prices at $10-$20k per phase.

If you have owned anything in CA, FL, NV, or NY for the past few years, you would have built up a good amount of home equity, if not huge already. You may not even need a mortgage in your next purchase.

You're talking like someone who has never even bought a house.
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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...
 
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