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by Dr. Steve Sjuggerud
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ate, when every flip has a 15% hole in the bucket. But all over Florida these days, people are lining up to give it a try.
The talk of "conspiracy" shows up whenever an asset gets really out of line with reality for long periods of time. The story usually starts with some basic truth, and then twists it completely out of reality. It's happening now in real estate.
It's the New Real Estate Conspiracy.
And like most financial conspiracies, it's complete garbage. Again, it's not a Wall Street conspiracy that speculation in housing is at a statistical extreme. It's a fact.
What I'm Doing With My Money
Personally, instead of taking equity out of my house to buy more properties, I'm doing exactly the opposite. I've done what I've recommended my readers do... which is pay off at least half of your mortgage. Personally, I'm going to keep paying mine down to zero. No matter how you look at it, housing is still debt that you owe. As you might guess, I'm not interested in looking at any U.S. housing property, period.
Please note, I'm not part of "The Real Estate Conspiracy" that this real estate agent is worried about. I don't work for Wall Street. I don't get paid a commission if you buy a stock (or a house). I simply look for cheap, overlooked investment ideas. Right now, it's impossible to call real estate "cheap and overlooked."
Nobody can say when it will end, or if the housing bubble will burst. Heck, tech stocks were expensive and likely "in a bubble" in March of 1999 - and they managed to double from March 1999 to March 2000. So there could be plenty more gains on the way, before the fun ends. Before the statistical extreme reverts back to the mean. But it will end. It makes no sense that the median household can't afford the median home where I live.
I'm quite okay missing out if the housing boom |
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