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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: loantech who wrote (601)5/17/2012 11:00:06 PM
From: John Vosilla1 Recommendation   of 2722
 
The bad patterns that got us into this mess are creeping into the market with flippers, low down payment mortgages, and bidding wars making their way onto the California scene.

Sure, we’re at or close to a bottom nationwide because the median home price is $163,000 and household income is $50,000 (plus interest rates are below 4%). Doesn’t take a genius to make that claim.

To the opposite end, take a look at Compton (90220) with 33 sales. Year-over-year however prices are down 10 percent even though the median price is $170,000, close to the median nationwide price.


Interesting stuff I thought from his latest blog I totally agree with the first two points. Amazing ghetto homes cost more in LA than a real nice home in the move up suburban market in most of the country
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