Those that rise fastest experience corrections long-term.
There hasn't been the necessity to do that before. The environment is going to get highly competitive this year.
We sure haven't seen anybody talking about this kind of stuff in the last three years. I'd say the love fest in real estate is over.
Realtors have been selling properties by telling investors they can't lose -- that their investments will be home runs. But the value of real estate can go up or down. If it goes down, you'll see speculators suing brokers. You'll also see lenders suing speculators as speculators walk away from their payments or fail to meet their closing costs.
That's really good pricing for a nearly new property, compared to comparable 10- to 15-year-old properties for sale in the area.
They do not want to see any government regulations or control because it limits the profitability. The free market is not doing anything to yield more affordable housing.
It's a major crisis forming.
It's starting to make sense to build apartments again because rents are escalating now after a few years of staying flat.
We are going to find the worst price corrections in the markets that have had the most explosive appreciation in the last three years. And guess what? Sarasota is one of the top five in the country.
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