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ltokuda.
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October 9, 2009 at 11:36 AM #16469October 9, 2009 at 2:55 PM #466373
HLS
ParticipantThe REAL sickness only kicked in about 6 years ago when no down payment AND lying about income and assets was possible..yes,it’s that recent.
In the 1960’s nobody in their right mind had anything other than lower end rentals. “Bread and Butter units” 2BR-1BA maybe 3Br-2Ba, but certainly not high end homes as rentals. It was NOT a major topic of discussion. (Nor was the stock market)
In the late 80’s many houses were available to buy at 100x monthly gross rent. Assumable financing was easily available on many loans. (Take over someone’s existing loan wit almost no qualifying)
Certain areas were always “higher end” with virtually no rentals…
An interesting book is THE COMING REAL ESTATE CRASH by John English & Gray Cardiff,,,written in 1979..
In nominal dollars houses have gone up. In many parts of the country, houses have been a very poor investment. Debt and leverage are key in an inflationary period. Owning property with no debt may not even keep up with inflation in many areas.
Manipulation from the govt and propaganda from the real estate machines have promoted the circus atmosphere.
Bubble markets like SD are the exception, not the rule. Many people got lucky many others haven’t been so lucky.
It’s still possible to buy rental property that makes sense with today’s numbers in almost every state in the nation. Expecting and factoring in ANY appreciation is a huge mistake. It should be a bonus, not an expectation.
Being a landlord isn’t for everybody….
October 9, 2009 at 2:55 PM #467182ParticipantThe REAL sickness only kicked in about 6 years ago when no down payment AND lying about income and assets was possible..yes,it’s that recent.
In the 1960’s nobody in their right mind had anything other than lower end rentals. “Bread and Butter units” 2BR-1BA maybe 3Br-2Ba, but certainly not high end homes as rentals. It was NOT a major topic of discussion. (Nor was the stock market)
In the late 80’s many houses were available to buy at 100x monthly gross rent. Assumable financing was easily available on many loans. (Take over someone’s existing loan wit almost no qualifying)
Certain areas were always “higher end” with virtually no rentals…
An interesting book is THE COMING REAL ESTATE CRASH by John English & Gray Cardiff,,,written in 1979..
In nominal dollars houses have gone up. In many parts of the country, houses have been a very poor investment. Debt and leverage are key in an inflationary period. Owning property with no debt may not even keep up with inflation in many areas.
Manipulation from the govt and propaganda from the real estate machines have promoted the circus atmosphere.
Bubble markets like SD are the exception, not the rule. Many people got lucky many others haven’t been so lucky.
It’s still possible to buy rental property that makes sense with today’s numbers in almost every state in the nation. Expecting and factoring in ANY appreciation is a huge mistake. It should be a bonus, not an expectation.
Being a landlord isn’t for everybody….
October 9, 2009 at 2:55 PM #466560ParticipantThe REAL sickness only kicked in about 6 years ago when no down payment AND lying about income and assets was possible..yes,it’s that recent.
In the 1960’s nobody in their right mind had anything other than lower end rentals. “Bread and Butter units” 2BR-1BA maybe 3Br-2Ba, but certainly not high end homes as rentals. It was NOT a major topic of discussion. (Nor was the stock market)
In the late 80’s many houses were available to buy at 100x monthly gross rent. Assumable financing was easily available on many loans. (Take over someone’s existing loan wit almost no qualifying)
Certain areas were always “higher end” with virtually no rentals…
An interesting book is THE COMING REAL ESTATE CRASH by John English & Gray Cardiff,,,written in 1979..
In nominal dollars houses have gone up. In many parts of the country, houses have been a very poor investment. Debt and leverage are key in an inflationary period. Owning property with no debt may not even keep up with inflation in many areas.
Manipulation from the govt and propaganda from the real estate machines have promoted the circus atmosphere.
Bubble markets like SD are the exception, not the rule. Many people got lucky many others haven’t been so lucky.
It’s still possible to buy rental property that makes sense with today’s numbers in almost every state in the nation. Expecting and factoring in ANY appreciation is a huge mistake. It should be a bonus, not an expectation.
Being a landlord isn’t for everybody….
October 9, 2009 at 2:55 PM #466979ParticipantThe REAL sickness only kicked in about 6 years ago when no down payment AND lying about income and assets was possible..yes,it’s that recent.
In the 1960’s nobody in their right mind had anything other than lower end rentals. “Bread and Butter units” 2BR-1BA maybe 3Br-2Ba, but certainly not high end homes as rentals. It was NOT a major topic of discussion. (Nor was the stock market)
In the late 80’s many houses were available to buy at 100x monthly gross rent. Assumable financing was easily available on many loans. (Take over someone’s existing loan wit almost no qualifying)
Certain areas were always “higher end” with virtually no rentals…
An interesting book is THE COMING REAL ESTATE CRASH by John English & Gray Cardiff,,,written in 1979..
In nominal dollars houses have gone up. In many parts of the country, houses have been a very poor investment. Debt and leverage are key in an inflationary period. Owning property with no debt may not even keep up with inflation in many areas.
Manipulation from the govt and propaganda from the real estate machines have promoted the circus atmosphere.
Bubble markets like SD are the exception, not the rule. Many people got lucky many others haven’t been so lucky.
It’s still possible to buy rental property that makes sense with today’s numbers in almost every state in the nation. Expecting and factoring in ANY appreciation is a huge mistake. It should be a bonus, not an expectation.
Being a landlord isn’t for everybody….
October 9, 2009 at 2:55 PM #466908ParticipantThe REAL sickness only kicked in about 6 years ago when no down payment AND lying about income and assets was possible..yes,it’s that recent.
In the 1960’s nobody in their right mind had anything other than lower end rentals. “Bread and Butter units” 2BR-1BA maybe 3Br-2Ba, but certainly not high end homes as rentals. It was NOT a major topic of discussion. (Nor was the stock market)
In the late 80’s many houses were available to buy at 100x monthly gross rent. Assumable financing was easily available on many loans. (Take over someone’s existing loan wit almost no qualifying)
Certain areas were always “higher end” with virtually no rentals…
An interesting book is THE COMING REAL ESTATE CRASH by John English & Gray Cardiff,,,written in 1979..
In nominal dollars houses have gone up. In many parts of the country, houses have been a very poor investment. Debt and leverage are key in an inflationary period. Owning property with no debt may not even keep up with inflation in many areas.
Manipulation from the govt and propaganda from the real estate machines have promoted the circus atmosphere.
Bubble markets like SD are the exception, not the rule. Many people got lucky many others haven’t been so lucky.
It’s still possible to buy rental property that makes sense with today’s numbers in almost every state in the nation. Expecting and factoring in ANY appreciation is a huge mistake. It should be a bonus, not an expectation.
Being a landlord isn’t for everybody….
October 9, 2009 at 3:20 PM #466918scaredyclassic
Participantthanks for the reference to the book. I’m going to start looking at books on real estate from the 1900’s through the 1970’s. I think it could be an interesting article. if anyone knows of any interesting titles from the time frame, let m eknow!
October 9, 2009 at 3:20 PM #467192Participantthanks for the reference to the book. I’m going to start looking at books on real estate from the 1900’s through the 1970’s. I think it could be an interesting article. if anyone knows of any interesting titles from the time frame, let m eknow!
October 9, 2009 at 3:20 PM #466989Participantthanks for the reference to the book. I’m going to start looking at books on real estate from the 1900’s through the 1970’s. I think it could be an interesting article. if anyone knows of any interesting titles from the time frame, let m eknow!
October 9, 2009 at 3:20 PM #466570Participantthanks for the reference to the book. I’m going to start looking at books on real estate from the 1900’s through the 1970’s. I think it could be an interesting article. if anyone knows of any interesting titles from the time frame, let m eknow!
October 9, 2009 at 3:20 PM #466383Participantthanks for the reference to the book. I’m going to start looking at books on real estate from the 1900’s through the 1970’s. I think it could be an interesting article. if anyone knows of any interesting titles from the time frame, let m eknow!
October 9, 2009 at 3:33 PM #466579Anonymous
GuestThere was a substantial RE bubble in the 1920’s, most of it concentrated in Florida. (The old sayings about “buying swampland in Florida” originated during this time.)
Florida Housing 1920s Redux: History repeating in Florida and Lessons from the Roaring 20s.
Speculation was easy-and quick. No long delays while titles were being investigated and deeds recorded; such tiresome formalities were postponed. The prevalent method of sale was thus described by Walter C. Hill of the Retail Credit Company of Atlanta in the Inspection Report issued by his concern: “Lots are bought from blueprints. They look better that way […]”
Credit was loose back then also, but I don’t think there was government backing. Just classic reckless speculation.
October 9, 2009 at 3:33 PM #466928GuestThere was a substantial RE bubble in the 1920’s, most of it concentrated in Florida. (The old sayings about “buying swampland in Florida” originated during this time.)
Florida Housing 1920s Redux: History repeating in Florida and Lessons from the Roaring 20s.
Speculation was easy-and quick. No long delays while titles were being investigated and deeds recorded; such tiresome formalities were postponed. The prevalent method of sale was thus described by Walter C. Hill of the Retail Credit Company of Atlanta in the Inspection Report issued by his concern: “Lots are bought from blueprints. They look better that way […]”
Credit was loose back then also, but I don’t think there was government backing. Just classic reckless speculation.
October 9, 2009 at 3:33 PM #466999GuestThere was a substantial RE bubble in the 1920’s, most of it concentrated in Florida. (The old sayings about “buying swampland in Florida” originated during this time.)
Florida Housing 1920s Redux: History repeating in Florida and Lessons from the Roaring 20s.
Speculation was easy-and quick. No long delays while titles were being investigated and deeds recorded; such tiresome formalities were postponed. The prevalent method of sale was thus described by Walter C. Hill of the Retail Credit Company of Atlanta in the Inspection Report issued by his concern: “Lots are bought from blueprints. They look better that way […]”
Credit was loose back then also, but I don’t think there was government backing. Just classic reckless speculation.
October 9, 2009 at 3:33 PM #466393GuestThere was a substantial RE bubble in the 1920’s, most of it concentrated in Florida. (The old sayings about “buying swampland in Florida” originated during this time.)
Florida Housing 1920s Redux: History repeating in Florida and Lessons from the Roaring 20s.
Speculation was easy-and quick. No long delays while titles were being investigated and deeds recorded; such tiresome formalities were postponed. The prevalent method of sale was thus described by Walter C. Hill of the Retail Credit Company of Atlanta in the Inspection Report issued by his concern: “Lots are bought from blueprints. They look better that way […]”
Credit was loose back then also, but I don’t think there was government backing. Just classic reckless speculation.
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