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Home >> Stock Forums >> Do You Own Real Estate In These Cities?

Do You Own Real Estate In These Cities?

Heather said: "1. Miami 2. Orlando 3. Sacramento 4. San Francisco 5. San Diego If you do, they have just been voted the 5 riskiest housing markets, with strained lending conditions, and which markets are the most overvalued and likely to face downward price pressures. I can certainly understand the places in Florida - the last time we visited there was tons of new construction, especially in Miami. My concern about properties there would be hurricanes. Never been to Cali, but it sure looks nice! A lady I recently met lived there for 5 years and had to head back to Ohio (for financial reasons, I assume.) What say you? [URL="http://promo.realestate.yahoo.com/riskiest_us_housing_markets.html"]Yahoo[/URL]"

JCast3 said: "i'd say of those 5 cities you're safest with san fran....i always equated them with new york city, just nicer....i know its always been a very pricey city so much like new york, i cant imagine them losing too much ground.... the other 4 markets listed may very well be fucked....i hear not so good things about the san diego market.... savy?"

thezster said: "Moved from Fairfield, which is midway between San Francisco and Sacramento... got out on the top - made 10% in 11 months, after comissions on my overpriced digs. The median price, at that time, for a home in San Francisco was right at $1million. I understand those averages have dropped considerably since then. San Francisco is a beautiful, beautiful city and area - but living there is about as spendy as it gets..."

AlfredSokol said: "Miami is the definition of overbuilt. Or at least Miami Beach is. The skyscraper condos go all the way out the AI Intercoastal for miles and miles."

Mr. Gekko said: "I've heard that the real estate market has been hit hard in Phoenix."

ratAphooey said: "That 11% in one year return is quite impressive. :th_dblthumb2:"

FirefighterB said: "Austin is DEFINITELY not on that list. I missed out by about $1k on picking up a 1 bed condo for 63,500 by University of Texas. Even with 100% financing, the payment, fees, and HOA, I would have been about $50 a month on the positive. That was one year ago... ...now places in the same complex are starting at $79,000 and I've seen them asking as high as $84,000. You can see why I'd like to slam my head in the 'ol laptop. This feeling is becoming all too common."

Heather said: "Sorry to hear that you lost out on that, Firefighter. Markets are funny that way. I think that if I lived in Florida, I'd be worried about hurricanes. That sounds like a big hassle for (potentially) too many months out of the year. Never been to Cali, but I hear it's expensive!"

lil dickie said: "I still want to retire in Miami. I love the ocean"

FirefighterB said: "[QUOTE=lil dickie]I still want to retire in Miami. I love the ocean[/QUOTE] I second that. Actually, I think I'd like to retire in a little more beachy, laid back atmosphere. Either further down in the Keys or, perhaps, in Central or South America. I'd like to own a tiki bar/restaurant and a sportfish/diving boat. Spend the rest of my days listening to the sound of waves crashing and showing tourists a good time."

AlfredSokol said: "FireFighter, I love your dream. Whenever I have visited any exotic style place I always see ex-Pat Europeans and Americans there. Lots of people try living that dream and I can see why."

FirefighterB said: "Hahaha. Thanks, Alfred. I'm a beach bum at heart and, out of everywhere I've been, I think the beach and ocean still top my list."

AlfredSokol said: "I am a beach bum too, my man. The only vacations I take involve hot weather and hotter women (usually!) :)"

JAP said: "I live in San Diego and I predicted the So Cal housing would collapse back in summer of 2005. People were laughing at me back then. Now, I'm laughing at them :grin: :signs005: We've only just begun. I see another 20-30% drop from where we are right now. :bricks:"

ratAphooey said: "What goes up...must come down"

Heather said: "[QUOTE=FirefighterB] I'd like to own a tiki bar/restaurant and a sportfish/diving boat. Spend the rest of my days listening to the sound of waves crashing and showing tourists a good time.[/QUOTE] Lots of people decide to do that. There are probably tons of ways to make your dreams come true in the islands.. open a hotel, a bar or as you said, sightseeing or other types of entertainment."

crankitdb711 said: "[QUOTE=Heather]Lots of people decide to do that. There are probably tons of ways to make your dreams come true in the islands.. open a hotel, a bar or as you said, sightseeing [B]or other types of entertainment[/B].[/QUOTE] ie, brothel :roll:"

AlfredSokol said: "Indeed. Whorehouses do quite well I'm sure. :th_SmlyROFL:"

Aligator said: "[QUOTE=FirefighterB]I second that. Actually, I think I'd like to retire in a little more beachy, laid back atmosphere. Either further down in the Keys or, perhaps, in Central or South America. I'd like to own a tiki bar/restaurant and a sportfish/diving boat. Spend the rest of my days listening to the sound of waves crashing and showing tourists a good time.[/QUOTE] Barbados. I worked there for a while, and there is nothing like it. Public profanity? Illegal. Disrespect for the elderly? 10$ fine. School attendance? Mandatory until you're 18. Beaches? All public, no such thing as a private beach. My wife fell off a horse there..we went to the hospital, they checked her out and three weeks later sent me a bill.........for 25$ Americans are encouraged to live and invest there. Most Bajuns (that's what they call themselves) are black. Some Indian, some white. I never saw any trace of racism. So treat yourself to a vacation. Stay at Sam Lord's Castle."

JasonG said: "I must agree with you all, living in Florida is quite the paradise, until the hurricanes roll in. Then chaos takes place, board up your house, grab the laptop, personal items and then head the opposite way it’s going. If any of you are looking for a rental home, the next few months would be ideal to start searching. I was reviewing the foreclosures in my county; I recall it being right at 800 for July. (I can hear the sub-prime lenders screaming miles away :) )"

AlfredSokol said: "Yeah no doubt about the subprime in Florida. It has to be bad there. Interesting tidbits about Barbados. I will have to check it out. :go:"

lil dickie said: "Man I wish I could take a vacation soon! I need it."