This quote isnt from an article but from a co-worker who bought a 430K 2 bed condo in Rancho Bernardo about six months ago. I repeatedly told the guy to hold off but it was no use. He listened to his realtor and got the place. A few days later he struts over to my desk and tells me –
“yep, it was expensive but I’ll let it go up another 100k or so and sell it in six months.”
Now that is the classic Joe clueless that is out buying real estate right now. Now the poor guy is working every weekend just to try and pay the interest only payments on his loan.
