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New real estate bubble firmly in place. Lets share tips.
invite response
2013 Mar 6, 2:24am 29,843 views 67 comments
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The bubble became clear to me only a few months after we bought. When we were looking there had been a large number of obviously undesirable homes that just simply stayed on the lists. We looked at a few and simply walked out. I mean- these were houses that I would no way in hell even consider. There was usually something fairly seriously wrong with them, like major foundation problems, permit issues, rot issues, weird layouts, or bad locations, like one we saw that was in the middle of a major intersection where 2 roads criss-crossed right in front of the house and there was a road behind it. Within a few months, these houses began to sell.
A house recently came up for sale 6 blocks from us. It was in fairly bad condition. It sold in 3 days. The situation sucks now. After having gone through that situation for years I still find it extremely irritating.
PockyClipsNow
2013 Mar 8, 7:45am
Bubbles been around forever. Jesus was born in a barn because of housing bubble.
bmwman91
2013 Mar 8, 7:53am
Bubbles been around forever. Jesus was born in a barn because of housing bubble.
Quote of the day!
lostand confused
2013 Mar 8, 8:06am
Bubbles been around forever. Jesus was born in a barn because of housing bubble.
I thought the whole Jesus thing was a massive money making bubble scheme that never popped?
PockyClipsNow
2013 Mar 8, 8:43am
Bubbles been around forever. Jesus was born in a barn because of housing bubble.
I thought the whole Jesus thing was a massive money making bubble scheme that never popped?
Of course. Who gets laid more: an unemployed carpenter or the son of god? Religion is really that simple.
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In all of coastal cali Multiple offers are now the norm for the under 800k or so market. Bay area especially.
I read an article (sorry cant link it on iphone) that in san fernando valley there has typically been 9000 homes listed at this time of year now there are 1400.
We all know why - they keep changing the rules and printing endless money. Fundamentals that matter are supply and availability of zeros and ones on the central banks computers(endless).
What i learned in the last bubble which ramped up for 10 years or so before the crash was not to wait it out. Get in ASAP and buy buy buy then when you got fat profits sell sell sell. I see rising prices for at least the rest of obamas term. But he isnt in charge the bankers are.
I also learned in last bubble not to kill yourself improving your flips. Just do basic paint ,carpet. Let the bubble increase the value not your own hard work.
Anyone else got tips how to behave in a multi year RE up cycle or bubble? Obviously renting is to be avoided at any cost.
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