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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (2186)3/26/2014 11:28:55 PM
From: tejek  Read Replies (1) of 2722
 
Since WW II, this country has been a safe haven for foreign money.

I don't like this. It will all end badly once again. As if no one learned from the late 1980's and mid 2000's.. What is most scary is I can see this gong on easily 3 more years as they'll inflate the entire country well beyond true intrinsic value just based on median incomes and normalized long term borrowing rates that the middle class in this country could really afford. Personally I don't mind as my cost basis ends up being once repaired on par with five homes just equivalent to what one low end Compton is currently worth even though median incomes in my target markets seem to be only slightly below Compton per City-Data. Reinflate if they will I'll sell everything once again. Still tons of RE bargains in many areas of this country seems quite cheap to well off folks from foreign countries but they aren't really buying much there YET.. In my previous post to you on Chinese buying in Arcadia, CA the median household income appears to be $71k and avg prices now over a million. Is just crazy IMHO..

What's happening in CA is only happening in a few markets of the country. Its not very wide spread at all but its on what the media loves to put their focus. And the boom in LA esp will end badly......I agree. LA's economics are not the strongest. But in SF, there is a lot of wealth supporting those prices..........there will be a bust in SF but it will be relatively minor [compared to LA] and will recover faster.

I think its very hard for people east of the Rockies to understand the CA housing market. It feeds off itself in a way that makes it very different.
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