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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (1459)3/24/2013 12:38:58 PM
From: tejek  Read Replies (1) of 2722
 
I think continuing on the current trend of the past couple years will create a massive bubble all over again well before the end of the decade. No one ever learns it seems and this time they are keeping J6P out of the game while prices are still low (so they can have years and years of pent up demand driving high appreciation when credit gets loose again?).. We can support maybe a 40-50% rise especially at these low rates but most critical is a real economy, jobs and incomes. Not trying to be another overpriced Vancouver of today or Phoenix in 2006....

What happened in 2008 was more than just a massive bubble of overbuilding. Unacceptable lending practices had become the norm where the real estate industry had created sub par mortgage instruments, encouraged appraisers to fudge on their appraisals and ignored bad credit reports.........all the while supported by a corrupt Wall St. I don't think such a unique and dangerous combination is likely to happen again any time soon.

As for Vancouver, its a city with a unique raison d'etre. There have always been large vacancies in certain sections of the city. It was a complaint my German friends voiced two years ago. Those units are owned by off shore Chinese. The communist Chinese have decided to use it as their refuge should their be problems in China. I don't think the arrangement is healthy one for a city. Its why I don't want the Chinese using Seattle as a back up.
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