I'm with you dick. I'm looking to diversify into a vacation rental in FL where local prices are down 65%. I think I can get almost a 15% yield on it and wait for prices to slowly go back up as I build more equity in the home.
Today may not be the absolute bottom in home prices, but if you buy now, you'll probably be sitting pretty ~10 years from now. You can't expect to flip houses for 25% gains anymore, but if you can get a yield and wait for the housing market to turn...eventually you'll make money...and potentially alot of it!
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