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September 11, 2005
Losing money in real estate
My girlfriend and I keep hearing "you need to buy a house now to build up equity" from our friends and family. With 2 BR/1 Ba, 90 year old, 1000 square foot houses going for $650,000 and up in our part of the Bay Area, we're not eager to jump in.
I've found a couple of articles to suggest how dangerous real estate can be if you're caught in a down market. Here's one about losing money mainly in rental real estate and another about the wrong reasons to buy a house. Finally, the Wall Street Journal has a few stories about seller's trying to figure out whether or not to sell right now.
If you find some more, send me an email.
Posted by brian at September 11, 2005 11:09 AM