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Re: Goin' Deep
Don,
Living in SoCal, every oppty possible I encourage peers to get debt free and avoid sinking significant dollars into new property-for the reason you mentioned of the shadow inventory.
Just the past two weeks I have seen two major purchases probably close to 800K to 1M where they go in and do an extreme makeover or rent out the property. I think many believe we have hit bottom here in the beach towns.
I think this behavior will mirror the same behavior when the stock market does its next major correction. Herd mentality will rush in at the low only to get submerged again.
Lesson is know the foundation or macro picture supporting your next major investment. Still as EJ says most go to the web to learn how to get dressed.
Don,
Living in SoCal, every oppty possible I encourage peers to get debt free and avoid sinking significant dollars into new property-for the reason you mentioned of the shadow inventory.
Just the past two weeks I have seen two major purchases probably close to 800K to 1M where they go in and do an extreme makeover or rent out the property. I think many believe we have hit bottom here in the beach towns.
I think this behavior will mirror the same behavior when the stock market does its next major correction. Herd mentality will rush in at the low only to get submerged again.
Lesson is know the foundation or macro picture supporting your next major investment. Still as EJ says most go to the web to learn how to get dressed.
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