Quote:
Originally Posted by Lenny2
No it isn't the case with most houses for rent.
Perhaps that's true in your area, for now, but that scenario will never hold up long term.
Otherwise owning rental property would be a horrible investment. You're supposed to take a loss on the rental for the first 10 years until the market catches up with you?
Hogwash.
Right now there are alot of areas where the housing bubble has yet to pop, and housing prices aren't in line with market fundamentals (average income for the area, average rent for the area, etc) but those things will all line up eventually.
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True.
However for my market, I have been spending the weekend's cruising neighborhoods, and I see the prices falling like a boulder in some of them. They are roughly $20-30k still over where they should be (except lake front which is still insane but falling) but they are coming down.
By the end of the summer there should be some sweet deals for me to snag up.