Quote:
Originally posted by KRL
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.
|
"Where did you come up with that belief?" take a look at NJ just pick a town and look during the span of 2-4 years
http://www.nj.com/realestate/homesales/