The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: The Wharf who wrote (30791)	5/6/2005 1:33:57 AM
From: kikogrey	Read Replies (2) of 306849

Darlene My daughter and her husband and baby live in rental in LA. We discuss buying sometimes and it just makes me ill. Not only are these properties overpriced, but much of the original construction was shoddy with many really botched up additions. Face it, although these places are appreciating these are really deteriorating big time. Another mystery to me is how are these folks affording the property taxes? That has been one thing that has motivated me to stay put in my house for over 25 years. I'm glad your son's place is at least walking distance to the beach. I can't see a lot of value in a two bedroom condo, which seems to be the norm. I grew up in a small three bedroom post WWII tract house which didn't feel too nice compared to the nicer areas a few miles away. But when I compare it to today's overpriced 2 bedroom condo with no yard, no garage but has HOA guess which one I would choose? My daughter tells me there are still speculators buying up apts because several friends of hers have gotten kicked out of their rentals when new owners purchased. Her current landlord is 96 yrs old, her last one was in his 80s.

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