Bubble Trouble
I read everyday about people leaving their jobs and risking it all in the real estate market. These people are partially motivated by tall tales of friends and neighbors striking it rich, and quite franky, their own delusions of grandeur. "If they can do it, so can I" right?
There's a lot to be said about skill and luck. Most people who've made it in real estate market have one and not the other. People seem to think that the CA real estate markets is another gold rush, find a claim and jump on it; not so. Many key factors makeup why certain regions prosper: job availability, median income levels, and of course affordability. This is a wonderful article points out the bubble neighborhoods in the US, notice that LA is on the list and SF, but not the OC.
Most people ask then what is the right time to buy a house? The simple answer is when the time is right for you, not the market, not your friends and neighbors, just you. And where ever you buy, plan on staying a long, long time.
Risky Markets
There's a lot to be said about skill and luck. Most people who've made it in real estate market have one and not the other. People seem to think that the CA real estate markets is another gold rush, find a claim and jump on it; not so. Many key factors makeup why certain regions prosper: job availability, median income levels, and of course affordability. This is a wonderful article points out the bubble neighborhoods in the US, notice that LA is on the list and SF, but not the OC.
Most people ask then what is the right time to buy a house? The simple answer is when the time is right for you, not the market, not your friends and neighbors, just you. And where ever you buy, plan on staying a long, long time.
Risky Markets
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