Quote:
Originally Posted by Wookie
As if buying a property to rent out was "oh so evil"
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I guess we were talking about two seperate things.
I was thinking of the people who were buying properties; knowing that they could turn around and flip the place once contruction was complete and make a profit. It is those people who I have little sympathy for; as part of any investment is the risk involved.
If somebody is buying a place with the intention of making it a rental property- that is different in my books because you aren't manipulating the market per se by having so many properties bought and sold.
The flippers were looking for short term quick and easy money and some got burned. The guys buying a place to rent out were looking at a longer term investment; and the fact is if they stay the course they could still end up ahead. Meaning that although they may be down 15% on paper- odds are the prices will go back up and 5-10 years from now they will be back into the making money situation.