RE housing bubble, sold my house here in socal for 2 yr. 50% gain after selling the house before that for a 2 yr. 40% gain. I am renting back for a year, LOL. Purely a cash management play. I cannot imagine that the housing market here continues the way it has gone and I am betting on a retrace.
A friend of mine who does home loans said the majority of his deals the last year were neg am loans. If the market flattens and interest rates on the arm's or int. only go up, foreclosures will hit this market in a hurry. People were stretching themselves to get into any home.
The first outside force that will start to help was the gov's annc. on friday that they're closing 11 CA bases. Now all we need is a nice 6.5 earthquake, and the bubble will pop. We are way overdue for a quake here, and many experts are predicting one soon, within 2 yrs.
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