Real Estate Bubble

[jtomm]

Re: Sac real estate

I've got a cousin who is a realtor there and prices had just gone bonkers for probably 10-11 years straight. In some places prices tripled and quadrupled.

But he said they're definitely feeling it now. Especially the investment flippers who have now discovered that negative cash flow is no fun when there is no hope of selling in a year or two because of huge appreciation. And the negative cash flows are huge because home prices far outpaced rents.

He says the market has changed in a major way.

P.S. thanks for the PM, Len