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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (1675)	2/19/2002 8:13:22 PM
From: MulhollandDrive	Read Replies (3) \| Respond to of 306849

No, it's not a "steal"...it's only a "steal" if you consider paying $300K for a dump is a "value".... His scenario could explain why there is something like a 90% rental rate v. home owner ship rate in his area. He "puts up with" a lower standard of living housing wise simply because he refused to commute and therefore is willing to rent instead of own. when I consulted with realtors in the area and pointed out that the average income in CA was $50,000 (at the time which was 2 years ago) and asked "who is buying" based on normal lending parameters I didn't get much of a reasonable response...one said " foreigners" speculating and buying buying rental property.