[quote=spdrun]You yourself seem to be predicting a slow decline …
And the decline this time it seems will take a lot longer since most of the ones that were sketchly financed last time aren’t even active right now.
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In this particular hood. I think there will be a floor, simply because of the close proximity to SDSU. And rent is around $1400/month give and take $100/month. Maybe not this POS you picked, but others better that costed much less …
Also, I’m expecting the banks to relax lending standards in the future, so instead of buyers only being investors for things like this that typically buy with all cash (and hence not really affected by interest rate fluctuations imho), there will be people who right now can’t qualify to own will be able to. The fact that we are in the $200k ranges for these POS condos without the relaxed lending standards and less than stellar buyers is already surprising enough for me. I would have thought prices in this area would have stayed depressed much longer. At $200k, cash flowing them is already going to be slightly challenging.
