She will not go in history as one of the greatest economists of our time...
September 26, 2006
Is the Real Estate Market in Bubble Trouble?
Kendra Todd: You can't go anywhere without hearing people talk about "the real estate bubble." Such talk drives me to distraction, and I'll tell you why. It's because there is no real estate bubble. Bubbles are for bathtubs. Despite a thousand articles in Sunday newspaper real estate sections, the bubble is a myth. Talking about a bubble implies a sudden burst, and real estate does not work that way. You don't go to sleep one night with your house worth half a million dollars and wake up to find it's lost half its value.
Who is Kendra Todd: winner of Donald Trump's NBC show, "The Apprentice"; Broker of Florida-based The Kendra Todd Group, ex-host of the HGTV Show "My House Is Worth What?"; Author: "Risk and Grow Rich: How to Make Millions in Real Estate" (aka How to Make Millions in a Real Estate Bubble)
1 comment:
Amazing what 700 days can do for your perspective, real estate especially.
Another fine example of using good looks, hype and a thimble's worth of knowledge to sucker people into something.
To the next person who tells you you can't lose in real estate:
1)The Depression
2)Unless you live in an area in high demand(even there prices are falling) you will merely break even on real estate if you figure in the interest on a 30 year loan, annual maintenance and taxes.
Interest money paid is real money that has to count against any appreciation you get. If we had paid our mortgage, it would have cost us 90K in interest, and our house in 11 years has appreciated 15K...times 3 is 45K, still less than the interest paid. We paid our mortgage off early, about the only way you move forward. But equity loans also will drag you down.
Always factor taxes, maintenance and interest in your "appreciation".
Buy a house for you to enjoy, not profit!
The whole process is a con job so people stay in debt to the banks!
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