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6 years ago

Woohoo, 7% YOY increase! We
Woohoo, 7% YOY increase! We are still lagging other cities though.

6 years ago

The main takeaway from these
The main takeaway from these data is the lack of inventory. Despite the high prices not many people want to sell. I could blame prop 13 or lack of building in San Diego but apparently, lack of inventory is happening all over the nation.

I wonder if there has been a cultural shift to people now renting out their old home rather than selling? Why not just rent out the old house with low-interest rates and easy credit. With low monthly payments, it makes more financial sense in the long term to become a landlord. You can even make a great yield from places like AIRbnb.

6 years ago

It isn’t hard to explain. RE
It isn’t hard to explain. RE offers good and growing income compared to stocks and bonds. The only stocks that pay more than 4% are risky sectors like energy and tobacco that might not even exist in 20-30 years.

6 years ago
Reply to  gzz

My guess is that every few
My guess is that every few months several hundred homes shift from the bought and sold market to permanent hold positions in the greater SD market.

Investors have no incentive to sell short of a radical change in tax policy which doesn’t appear to be in the works.

6 years ago

Need advice from rental
Need advice from rental investors. I’m trying to choose which out of state rental market to buy into.
Paying all cash, because I cannot get a loan due to eliminating some inventory in business.
With only 90k to work with, I’m looking at very nice houses in good Detroit and Ann Arbor suburbs. I’m also looking at condos in Dallas, because I don’t have enough money for a house. According to what I’ve read, Michigan is great for return on investment and the suburbs are relatively stable, but not as stable as Dallas, where appreciation would be good.
I plan on buying and holding. Thanks!