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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (132797)	4/6/2013 12:59:16 PM
From: John Vosilla	Read Replies (1) \| Respond to of 149317

What get's you nervous the most? WS involved in single family homes, too many higher end homes for rent flooding the markets or the shadow inventory yet to be absorbed? I changed focus dramatically from 2-3 years ago and went back to old school buy and hold going lower end where the numbers work great and the WS thugs don't compete yet... As to savy investors being connected to the shady tactics by the lending industry during the bubble many like your dad and I knew it was a scam. Most others kind of knew but were so blinded by the boom and phoney prosperity in essence lived in their own little bubble gushing with green in 2005-06. Few if any knew how leveraged the entities were that held the paper though. Going to Houston and Atlanta in 2005 for the first time on separate trips, where there was a real economy plus no bubble at least with regard to home prices, really opened my eyes to what lied ahead in extreme bubble markets so tied to housing like Florida and Arizona.

To: RetiredNow who wrote (132797)	4/6/2013 1:23:33 PM
From: tejek	Read Replies (1) \| Respond to of 149317

Home sales rebounded last year in a number of beaten-down markets, and institutional investors are the reason. Institutional investors comprised 30% of Miami sales, 23% of Phoenix sales, 21% of Charlotte sales and 19% of Las Vegas sales. Prices increased accordingly. Phoenix posted year-over-year gains of 23%. Las Vegas prices popped 12.9%, Miami 10.6% and Charlotte 5.3%. These investor-driven price spikes have turned the rental economics equation upside down just as renters are harder to find and keep. Las Vegas broker Tina Africk, who manages 60 single-family home rentals, told Bloomberg that houses that were formerly rented in 30 days can now take 60-90 days to fill. At the same time, rents have fallen about $100 a month from a year ago. In Phoenix, sales prices are soaring, while rents are up only 1.6%. The competition for renters is keen. Arizona’s quick repossession process has cleared the market quickly. Most people who have lost their homes have found a place to rent already. “There are a lot of properties out there, so the competition to get your property rented is fierce,” leasing agent Cathy Svoboda told Bloomberg. “Tenants are very savvy. If you’re overpriced by $25, they’ll let you know and go to another one around the corner.” Rents in battered Atlanta are also soft, according to James Breitenstein, whose company has bailed out of Phoenix while buying 300 homes in Atlanta and Las Vegas Atlanta, Phoenix and Las Vegas are three of the weakest markets right now. To use them as examples is to intentionally deceive. Why is your author not talking about Seattle, Austin, SFO, Houston, Dallas, Pittsburgh etc. where a boom is happening and vacancy rates are well below 5%? I get tired of you perma bears presenting things in the worst possible light by cherry picking the data.