[quote=nhamlin]the time to buy is when blood is running in the streets[/quote]
Exactly. This isn’t something I have to do. It’s something that I’ve toyed with for a long time but it’s always seemed way overpriced. But now I’m seeing properties trading at 1/4 the peak and below. Many units seem to be back at 1990s prices.
I’m not interested in Tahoe or Utah or Colorado mostly because I know nothing about those areas, and I’d be a fool to buy into an area I know nothing about. Heck, I might even be a fool for buying into an area I do know. :p But Mammoth is THE premier ski resort for folks – especially families – in southern California, and regardless of whatever trouble the municipality has gotten itself into, the Mammoth Mountain Ski Area is not going away anytime soon.
I’ve just started playing with the numbers and there’s not much depth to my analysis yet. I haven’t found (or created) the Mammoth Lakes equivalent of a Rich Toscano graph.
But I think I smell blood. I’m not in any rush, either. I don’t see much upside to this market in the short term.
