patrick.net
An Antidote to Corporate Media
1,364,181 comments by 15,735 users - ForcedTQ, mell, SharkyP online now
Comments 1 - 1 of 4 Next » Last » Search these comments
The three primary determinant of real estate value is: location, location and location, as the old saying goes.
There are regional differences. Within each region, there are also huge differences in Beta (volatility). So far the suburbs, especially outlying regions have dropped far more than the "fortress" area. The inner core of a metropolis like Manhatten and DC have actually gone up in price instead of dropping.
IMHO, that could change with the coming wave of self-driving cars. Commute becomes much less of a problem when you can read or exercise while being transported in your own car that drives itself. Being able to get home after getting wasted at a bar will cease to be a city living privilege.
Comments 1 - 1 of 4 Next » Last » Search these comments
Roberto, and I had a spirited exchange on another thread about Chico California. I felt Roberto was using the market place in Phoenix as an example of what could be done in Chico.
My point is that these are vastly different locations with different economic factors.
That lead me to the fact I could have invested here in Seattle Washington, but we never really got the amount of discounts in pricing I would have expected after the Real Estate crash. Our Real Estate market place is vastly different than Phoenix.
We are thirty miles North of Tacoma Washington however that does have similar qualities, and opportunities that Phoenix enjoyed.
In my opinion Roberto's market place in Phoenix was the right place, at the right time. I would prefer to have been in Phoenix after the crash, than investing in Tacoma Washington.
When I really think about it, even here in Seattle there are places that are good solid investment opportunities, and other areas of Seattle I wouldn't touch.
It's all about location, and the opportunites that location can offer. In a broader Real Estate market sense there are still some safe havens while other places have a lot of equity to lose.
Banks lent a lot of money over true value. Some of those bets are paying off, and others continue to decline.
What makes a great location so your Real Estate holdings are worth keeping?
#housing