Moving from flipping, to getting out and also looking at foreclosures:
Those of us who remember the premise of a 30 year mortgage - slow and steady, but quite safe, will have no worries. The average American might be able to buy a studio condo in LA/NY again - I’m not going to stretch it and say house or, mind you, a 1 bedroom. The stock market will probably begin to push upwards! With the real estate market in trouble, the stock market will again begin to look like a place for opportunity.
I guess there are many ways things can go, but be warned. Time to start diversifying your portfolio a bit. Look at cash, stocks, bonds. Real estate is a great investment, but should never be your only one.
and also
“About 103,540 properties nationwide entered some stage of foreclosure in January, a 27 percent increase from the previous month and a 45 percent increase from January 2005, according to RealtyTrac, an online marketplace for foreclosure properties.”(Source: Inman.com)
March 09, 2006
Here's what a real estate investing blog is saying about getting ready for the housing collapse
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4 comments:
I got a kick out of the (I'M a loan officer dude) so i left him a little knowledge post i cant wait to hear the reply. Another one who thinks things are great in the RE world. Dont ya just love the denial.
hey, a real live loan officer. tell us a story! what's your take of this market? how's business? what do you think your next job will be? make a killing the past 5 years?
LMAO
I really enjoyed reading all of your comment everyone! I too laugh when I read the comments from the loan people on our blog . I'd be curious to see how all the mortgage folks are doing their investing . . . funny how most of the ones I know don't even buy property. Hypocracy abounds everywhere. . . all our best!
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