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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (2018)1/19/2014 12:52:38 PM
From: tejek  Read Replies (2) of 2722
 
1) I asked Bruce if this economic recovery is real. Bruce’s response was that this is not a real economic recovery. This recovery was policy driven. 70% of new job creation is part-time. I purposely asked this question again because Bruce previously mentioned in his “How I Survived Real Estate” presentation earlier in the year or last year that this is a fake recovery.

2) However, Bruce mentioned that the Bay Area has recipes of a real recovery. With respect to job creation: CA added 1.7% new jobs (252k jobs), while San Jose added 2.9%. San Francisco added 2.7%. OrangeCounty added 1.7%. San Diego added 1.6%. Apparently, Bruce believes the Bay Area gives the best indicator for other cities in CA. He suggested that investors should focus on nearby cities that haven’t experienced the price appreciation like the Bay Area has had.

I love these so called 'experts'..........they love to shock. Of course, the recovery is real. It may not be as strong as we would like for a whole host of reasons but the recovery itself is very real.

3) CA home prices peaked in 05/2007 at $595k. At the bottom 02/2009, the median price was $245k. Now, the median price is $434k. YTD, the CA housing market is up 29.8%. It doesn’t matter that the recovery is not real and policy driven. Investors are not complaining about the YTD 30% appreciation. Just be sure you have a chair when the music stops. An audience asked Bruce when this housing market cycle will peak. Bruce said when the housing affordability index of approaches 17%.

That's BS............its my contention that the CA housing market doesn't follow the so called rules. It makes its own rules that's why saying that at a HAI of 17%, the market will have peaked may or may not be true.
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