Quote:
Originally Posted by Beegs
Article in my local paper yesterday: "Water and sewer bills to rise 7%" Great, I own a four unit and am paying a fortune as it is....AND rents in the area are NOT going up to offset. Oh and the government has been buying homes, spending 300K+ to remodel them and turn around and put them on the market for $159K...........that makes it real easy to compete!
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I've heard zero reports of the government buying homes and remodeling them, even for banks this is a very rare thing to do. I was in the market for months this year and saw nothing like that at all. I wouldn't say it could never happen but that is not typical at all.
If anything, the government is losing a lot of money by practically giving houses away. I can't tell you how many freddy/fannie homes I saw that were listed way below market value. Not only were they cheaper than other REOs, you have to put less down!
My point is this, and it goes back to a lot of things people have said in here. Every persons experience is different, and you have to be cautious drawing any broad conclusions from it. In real estate and in commodities, every market is different, and generally we're all exposed and affected by a relatively small area of either, so as they go, so goes our experience.