REAL ESTATE BOOM OR BUST?
I am hearing so much doom and gloom in the real estate industry, that i decided to talk about the good side. I'll admit, foreclosures are wreaking havoc on the market, but haven't we been here before. By we, I mean the collective. I was certainly too young to experience the 80's bust, other than eating "SPAM" with every meal. For those of you under 30 yrs old, that was a type of canned meat. At lease I think it was meat. The rest of you probably still have it in your colons. I digress. My father in law is owner of the largest private brokerage in Oklahoma City, and he told me once, cash is king in a down market. If you don't have cash, then borrow it and invest in Real Estate. With interest rates still rock bottom, and properties selling for close to half their value in some cases, it is the perfect storm. Real Estate will rebound, and property values will increase. Rents are increasing making investment properties more valuable. This is not rocket science, and I can show you how many people are taking advantage of this down market. I am saddened by the financial crisis in which many people are finding themselves. However, it is neither unethical nor unjust to take advantage of the tremendous opportunity to build a real estate portfolio.