I agree the media is feeding off the misery and paranoia of the markets. The big and “smart” money are moving in where everyone else is walking away from. Conventional lenders aren’t lending, so hard money is stepping in and making a killing. Buyers aren’t buying, so foreign investors are scooping up the deals.
I’m barely squaring my debts with rents, but the rents are stronger now that mortgages are harder to get.I’m doing fine with the properties I got in 2001 and 2003, but I too fell for an easy to get mortgage and got a property in 2006 that I’m a couple of hundred dollars negative on each month.
I’ll be able to handle it and am encouraged that my area (Las Vegas) has a strong economy. My only regret is that I’m short on enough cash to get in on some of the unbelievable deals available now. I’m from a long line of real estate investors and we all know one thing for sure – Real estate always comes back.
