Good article, brings it all together... Highlights:
I ran into an old neighbor a few days ago. This fellow owns 250 units in San Diego. His oldest son manages 1,500 units. I asked him what was going on in real estate. He told me that we're past the peak, that prices are softening, and that it's taking longer to sell property in La Jolla and throughout San Diego. He added that all his real estate friends agree with that appraisal.
and
As the CA housing mania ends and the concept of risk returns to its rightful place, there is going to be a rush for the exit doors. Speculators are going to find out -- and many for the first time ever -- that as demand continues to soften, liquidity in real estate investments is far lower than they envisioned when they went in."
November 25, 2005
US Housing Bubble - The Leak Is Growing Bigger
Subscribe to:
Post Comments (Atom)
1 comment:
tom:
"Not to worry" regarding:
"US "Bubble" Will effect everyone globally".
Ben, new Fed Chief, will simply reduce interests rates.
The "Real Estate Bubble Burst" will clean out that ugly "froth" (which is all over the world, not just USA) and real wages in the USA and USA realistic property values will prevail.
Those that bash the USA do not understand that at times foolishness reigns but there is steel in the core of most US citizens and this Burn and Crash in real estate will purify that steel. So. Be. It.
-
Post a Comment