Quote:
Originally posted by dmv69
real estate bubbles wont burst like stocks.. houses keep value. u have to wait until the interest rates go up b4 housing prices go cheaper.
why would there be a bubble on housing? infact, its because ppl dont play stocks they put their money into their homes
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Houses keep value?
The hell they do. Where did you come up with that belief?
My house in LA was worth over $2 Million until 1/17/94 when the Northridge quake hit. After that the value sunk to about $1.2 Mil, if even that. That's when we said fuck LA and decided to move back to the East coast. Couldn't even get a single decent offer and we finally gave up trying.
Here in South Florida there are beachfront mansions for sale like you can't believe, cause so many people got zonked by the stock market and everyone wanted to get liquid by selling RE. So now the high market is sucking wind.
Residential rental units are usually pretty safe plays. But commercial buildings and luxury properties are where you can really get nailed if the market goes sour.