System For Real Estate Investments
March 21st, 2006
Question: Renting 2010-2020: will California, Arizona, Nevada, Florida, and Michigan become “renters paradises”?
For most of American history, most people rented their homes.
Prior to WWII, most Americans rented. “The American dream of homeownership” occurred during the post-war economic boom when Americans had the money to take advantage of the Federal Home Loan Bank system (subsequently wrecked in 2005-2007).
So as long as unemployment and underemployment are high, there can be no housing recovery right?
Unless residential real estate is appreciating in value, people will not buy right?
Sure the stock market is doing good, but it looks to me like a “jobless recovery”.
Without a well employed workforce, there does not seem to be confidence that it is a good investment to buy a home in the overbuilt states of CA, AZ, NV, FL, and MI (one fifth of the pop. of the USA).
So …. where are all the new jobs going to come from? (I accept that this question might be answered by 2020)
Do you agree?
Answer: Ill say this much as far as the city of Orlando where i reside here there was a huge condo conversion boom in the last few years and is almost impossible to find an apartment complex to rent that isn’t already converted and own by a bunch of firms with lawyer investors i my self been looking to buy property to rent but when it comes to HOA and Taxes it is so high that in order to make a profit your looking at hiking up the price but then it will sit vacant since so many others who already paid of their condos are renting them dirt cheap.
My only hope is to buy rent for cost and hope that in 4 to 5 years market turns around and hopefully then i can get money out of them when i sell them, and as far as houses those cheap enough to buy have been destroy on the inside that it will cost again a large chunk of your investment cash and again you will need to rent low to stay competitive and break out even.
MLS Gorilla Automated System For You Real Estate Investing Business
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