There’s a lively, stimulating debate about the South Florida market going on over at The [tag-tec]Housing Bubble [/tag-tec]Blog.
I love it. More talk about the real estate market cycles. You know, where’s the bottom, and such?
But I have to admit they’re right about a lot of it and their entertaining comments are anything but boring, especially when they make fun of today’s deer-in-the-headlights “experts”. Those would be chiefly many journalists, governmental experts and some real estate people.
Housing Bubble’s readers are not taking prisoners. They’re in a victorious plundering mood. But some of them are still not buying real estate as of yet. They haven’t seen the bottom. Okay….
Meanwhile, I’m reading about Russian billionaires, that’s right billionaires, coming to Southern Florida to buy up [tag-self]foreclosures[/tag-self] and pre-foreclosures. And yes, they want the good stuff; preferably around Fisher Island and South Beach.
A real estate agent named Heather Goulding is courting them. Talk about a niche market.
And she’s quite good at it. She’s got two more groups of unnamed persons coming over before the end of the year. You go, girl.
Which brings me to my theme for this blog.
You can make money in any market, but you need to know where the cycle is.
Those billionaires are not stupid. They’re investing in Florida because it has a stable government ( at least that’s their opinion) and is a good place to park their money for future growth.
The main reason why a lot of people are in trouble today is because they bought into a market cycle that was on the way down. Only they didn’t know it.
As Housing Bubble Blog’s Ben Jones points out, you can’t listen to these experts(the talking heads) who don’t know what they’re talking about. You have to do your own due diligence. You can become your own expert about South Flordia as well as any other market .
By the way, Ben, when’s the book coming out?
Read Housing Bubble’s To No One Surprise, Oversupply Has Caused Price Declines