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Originally Posted by Cains
California and Florida always have some kind of bubble to their real estate. Retirees move down and then quickly want to get out as soon as the first earthquake/hurricane/crime happens. Then is the time to buy, wait a few months then sell during peak summer months.
The problem is some 'investors' are way too green and are expecting huge increases within a few months for no real reason other than supply and demand. That is not sustainable with all the development going on and the relatively fragile state of the US economy.
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Agreed... one of my good friends has a FL home and waterlot. I keep telling him, he's overextending himself and it's gonna be interesting when he doesn't get the return expected. The fucker still lives home with dad and he's playing real estate, doesn't even own a house yet... and he's in his early 30's