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

To: pheilman_ who wrote (63450)	10/7/2006 2:51:44 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

Pardon my obvious prejudice, but having to write a check to a landlord every month for $1,600 is not a gift. <<GG>> I know renting is a good option for some people. But my math tells me that a decade or two or three of doling out rent checks adds up to.......you do the math....much more than a downpayment on something to own. In fact, I think condo ownership in general doesn't compute too well for certain people, if it's one of those hi-rise luxury jobs with pool, tennis and a bunch of amenities not everyone uses or needs equally, which costs hundreds and hundreds per month in non-tax-deductible condo fees and an ever-rising, unpredictable bill for shared property maintenance. This is a good time in history for renters who know they want to own someday to check around and study ways to rent and profit from it and for owners of glut-ridden condo communities to examine creative ways to handle the bills. (And by the way, owners and prospective renters aren't going to find these deals thru real estate agents. No incentive for agents to get involved in lease/option stuff. This is something the parties should work out on their own. I assume that the internet would make it easier these days for the two to hook up and make a deal--but obviously they need a lawyer to draw up a contract/lease that protects both parties.)

To: pheilman_ who wrote (63450)	10/7/2006 3:11:20 PM
From: ChanceIs	Respond to of 306849

>>>Gift from "owner" to renter is $1,100 per month.<<< From a post here earlier in the week (copied to my real estate file on the HD and sent to family members): _____________________ Recently one Real Estate Guru, issued a report showing how the gap between the monthly out-of-pocket cost of buying a home vs. renting it, has been widening to an unsustainable 50% in the country's hottest markets; Nationally, the gap on average is now only 40 percent more expensive to buy than to rent, while in hot markets like South Florida, San Diego and San Francisco it is more than 55 percent. In Washington, it's 65 percent more expensive to own than to rent. If that is not a sign of a Real Estate Bubble living in the Greater Fool Theory phase then what is? __________________________________ The whole article is an excellent read and addresses all aspects of the Greensapn induced bubble and its aftermath. I think Vergler is wrong about oil however. I think oil (like gold) could become the currency of the future. gold-eagle.com