1) Own
2) No. We buy low and hold.
3) n/a
4) My folks taught me good. They bought their first rentals in the early 70s slump. We bought our house in the mid 80s slump. We were ready to buy again during the great mid 90s slump but new babies kept us distracted. No matter. Slumps are like buses, if you miss one there’s always another coming. Just sock away the cash and enjoy life in the mean time. And BTW — don’t get sore at the people who deny there’s a bubble. They make the froth that inflates the bubble that causes the collapse that produces overshoot that allows us to buy an affordable property.
5) No, we buy rentals where it’s zoned R2 or higher.
6) Nah, we love this neighborhood. We love this house. I enjoy taking trips to Home Despot to keep it running.
7) I would like to see at least a 30 percent drop but suspect it will go further. Especially if we get any combination of the earthquakes/riots/fires/mudslides/county bankruptcies/recessions we have always had before…
When Newsweek prints a cover with the headline “CALIFORNIA — NO LONGER GOLDEN?” it is usually the right time to buy.
