Hi PS,
I only got to ask the 4 people I was with. Naturally after I asked them, we got into an RE discussion. I was surprised at how much they all knew about the market. They were even using phrases like, “atm housing machine”! They were very aware. They said they got all their info from friends, and some news reports.

These people are all immigrants like me though, and all in business for themselves. In some ways I think we are more prone to seek out information, and think more critically than regular folks, because we all came here for opportunity. I would not classify them as sheeple.

Anyway, all 4 said RE was not a good buy in 1 year, but may be a good buy in 5 years.

VCJim said to post the survey results in that thread. I’m waiting until I have my 10 responses before posting.

BTW, one had just closed escrow on a condo in Phoenix. He said he got a good deal, and felt comfortable with the investment because the rent was covering his mortgage, and he had no problem renting it. He did not use any type of risky loan either. He said he wanted to hold onto it for 10-15 years, perhaps retire to it.