Quote:
Originally Posted by asphaltgambler
I agree, seems to me that some / most institutions are either ignoring the obvious continued market down turn or oblivious to it. Better to take some loss on the short than to hope and hold for the full loaf of bread IMO.
The 'other' mortgage products that are just now starting to implode are the "Alt A's" and "Option ARM's" which are now just starting the first adjustment. If you think the bubble has exploded because of the subprime; just wait another 6 months to a year for these products to land back in the holders lap.
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That is what I am watching and it seems to be the trend. I have three props, two are still doing well but my Cali prop is a disaster. I have a business decision to make but am waiting. Sometimes risk bites a risk taker. My basic approach is to wait it out and it does look like 09 is going to see some more hurting. So what to do?
For those with more expertese than I have, what is your take on areas of the country that are doing better? I have property in Park City as well as Saint Helens Oregon and they are doing well. What other areas in your opinions are doing ok and should be watched? It seems to me that there are going to be a ton of opportunities out there (if credit eases) in the next 12 to 24 months. I am curious of your thoughts.