I have previously stated that real estate is very slow moving and predictable. Specifically, I am referring to single family residential housing. I would now like to retract that statement. The real estate market is totally out of whack and predictability is now a plaything of unpredictable intervention. Wall Street has never participated in single family investments before. With its seemingly unlimited resources, it is changing the landscape significantly and I suspect it is for the worse. Historically, investors cannot compete with owner occupants because the latter are always willing to pay a higher price for a "home" compared to...
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In the current financial nightmare the US is in the last thing I am concerned about is buying real estate.
While the country is on the brink of financial collapse and they decided to go for another around my take is let some sucker fall for the real estate bullshite and lose their shirt! It is NOT going to be me.
Biff Baxter says
Real Estate: Out Of Whack
Real Estate = Out Of Whack
The administration simply has the wrong idea on how to solve the problem. Let the market take over in 2009 and we might be back to equilibrium right now.
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