Bloomberg wants to destroy the economy there.
Real Estate will plummet.
New York will become Detroit Mark II if Bloomberg sticks around.
The smart money is making “reverse mortgages” expecting to have full title to a home purchased at the LOW of real estate values and sell at higher price in 5-10 years. Making 30% on a 150,000 home is not that hard and is so easy it hurts me to think about what a hustle this is...winner again big banks. Loser...”the children” oh yea, the sellers right now - “greatest generation” lol
How many times are you going to make me jump out my window this week?!
Yep.
As expected.
Thanks for this.
After a Long Rally, It’s Time to Get Choosier With REITs
http://online.wsj.com/article/SB10000872396390444097904577536822808102072.html
“The reason: “the New York-based hedge fund is looking to sell now because the returns it is generating from rental income are less than expected”
A question I have had from the start is who the heck were they thinking was going to rent these homes? All of the tens of millions out of work and dropping off of the unemployment rolls? They MUST have identified a market before they got in...? Coincidentally I have been looking for a whole house to rent (3 bedroom) since 2010 and there is nothing out there that isn’t filthy and tiny for under 2300.00 per mo. There has been no drop in rents asked in all this time. Nice “market”.
M4L
I’m making 8% return on my rentals that were bought with cash not counting depreciation deduction.
I’m sure not bailing!