I do think they will cash flow eventually… We had a long thread about downtown a few weeks ago because there are several posters thinking about downtown. I forgot the outcome but I think my personal thoughts were that 250 per sf is not out of the realm of possibility at the very bottom. That is pretty pessimistic according to some people but I am sticking with it. I just think that the situation downtown is the perfect storm.
Cash flowing is a bit subjective because it varies with your own downpayment. So cash flowing to one person is not cash flowing to another. Will it cashflow at 20% down? I think it could as long as rates are not to high.
The other thing I would be wary about is the possibility of HOA assessments due to reverve requirements not being met or shortages due to lack of owners. This is an ugly side affect that is not discussed alot but I have seen posts here on Piggington about it. My point on that issue is that it pays to be careful about downtown (or any condos) at this point in time. Yes once things cash flow units will be purchased but I don’t think you will miss out if you keep a pulse on things. Also hitting the bottom is impossible but significantly reducing the risk when you do make the purchase is the goal.
