They’re preaching to the SocketSite choir: fundamentals, cash-flow positive and a long-term horizon. The current challenge: finding those opportunities a bit closer to home (assuming you’re not reading from Vallejo). Our solution: continue to plug in.
∙ Timing may be right for real estate investors [SFGate]
Wow. A non-bearish story on socketsite. I will now eat my hat.
The SF Chronicle loves RE ads, especially the advertising supplement that looks so much like the real thing.
I remember Carol Lloyd had a few bearish pieces late 2006/early 2007.
Here is one example:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/11/19/REGRKMF60R1.DTL&hw=surreal+estate&sn=046&sc=384
And the very same day, this was printed right across from Carol Lloyd’s piece:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/11/19/REGRKMF60V1.DTL&hw=letters+to+real+estate&sn=020&sc=239
There’s definitely pressure.
Preaching to what “choir?” I’ve been talking about fundamentals on this site for over 2 years now and all I get back is “the MARKET” this and “the MARKET” that, like fundamentals don’t matter!
(Btw, $414k only looks like a “bargain” to people who have been looking at $599k for the last few years. To people in other cities looking at $250k the last few years, $414k is outrageous. God, am I the only one around here with feet still on the ground?)
If you’re paying today’s prices, you’re still a sucker. Period.
yup rg, still a long way to go to return to long term levels of price/income and price/rent. Gonna be a lot of unhappy knife catchers in a few years.
Reuters on Sunday carried an interesting article on the foreclosure troubles of a Santa Cruz man.
Why is this particularly newsworthy? Because he’s losing nine homes that he purchased in addition to his primary house!