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Experts Available to Discuss Housing Prices & Bubble

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Pamela Crowley (Florida)

Thread Starter
Elite Member
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
http://biz.yahoo.com/bw/021003/32511_1.html

Some people are starting to THINK.

I have a friend that has never paid much attention to Real Estate but told me a couple of weeks ago that she wants to buy a couple of houses since they are going up so much so fast. She just wants to buy them and rent them and all the Realtors are telling her it's such a good idea. She thinks she's going to make lots of money even buying at full market value right now!

And she thought she lost too much in the stock market?!?!?!?! This type of buyer is dangerous and the 'second home' mortgages are way up when it's really being purchased as an investment. I'm starting to see some little leaks in the bubble. I doubt it will 'burst', but it will leak.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
:lol: :lol:
Pam:
Save your friend some grief and have her 'shadow' a rental company manager for a day....

Then walk her through a couple former rental REO's.

She'll get the idea!
 

Pamela Crowley (Florida)

Thread Starter
Elite Member
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Not much I can do with someone that thinks I don't really know what I'm talking about. After all, her Realtor friends know what they're doing and wouldn't hurt her!
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
A fool and their money.... Ah, well. Maybe, just maybe, she won't get hurt too bad. After all, even a blind pig can find an acorn sometimes.

Roger
 
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