thefed
Thinks s/he gets paid by the post
- Joined
- Oct 29, 2005
- Messages
- 2,203
Long story short, close family is into some big commercial real estate. At the family xmas, I met a lady who held a top position at Credut Suisse as an analyst and now is a housing market analyst....not sure of the company she works for or if she's independent, but the word I got from my family who knows her best is that she's the "#1 wall street housing analyst"....whatever the hell that means. I know she gets the housing #'s in real time and she has , for example, november's numbers on nov 30th vs. dec 10th or 15th when theyre made public Didn't catch her name, but she held the position of the gentleman we all saw on 60 minutes the other day from Credit Suisse
Some of the data she explained to me was pretty interesting...and I dont have much time to elaborate,but as we already know, her main point is that its all doom and gloom for at least 6 months. my cousin is now contracting for her and is going to share some hard data at year end...should be interesting. She's been telling us both to get to an all cash position for the last 6 mnths.....wish i'da listened in july when i first met her.
anyhow, once i get some more details and numbers, i'll be sure to share. the few things I remember from our conversation were that at the current rates, 67% of people can now afford a mortgage....and 68% of eligible adults already have one...obviously this illustrates the lack of demand. she also was very hung up on multi family dwellings....because the single family homes are being thrown into foreclosure and being bought rehabbed at a pretty impressive rate (lots of decent homes being bought for cash in our area for 30-50k), the sfh rental market has exploded...weakening the multi family home rental market which is hurting the cashflow of many multi-family dwelling owners...which will soon translate into some absurd amount of defaults on THOSE loans. In her opinion, that's where the deals will be in 6-9 months and where she thinks i should focus my rehabbing/investment goals for next fall.
anyhow, i'll keep ya posted
Some of the data she explained to me was pretty interesting...and I dont have much time to elaborate,but as we already know, her main point is that its all doom and gloom for at least 6 months. my cousin is now contracting for her and is going to share some hard data at year end...should be interesting. She's been telling us both to get to an all cash position for the last 6 mnths.....wish i'da listened in july when i first met her.
anyhow, once i get some more details and numbers, i'll be sure to share. the few things I remember from our conversation were that at the current rates, 67% of people can now afford a mortgage....and 68% of eligible adults already have one...obviously this illustrates the lack of demand. she also was very hung up on multi family dwellings....because the single family homes are being thrown into foreclosure and being bought rehabbed at a pretty impressive rate (lots of decent homes being bought for cash in our area for 30-50k), the sfh rental market has exploded...weakening the multi family home rental market which is hurting the cashflow of many multi-family dwelling owners...which will soon translate into some absurd amount of defaults on THOSE loans. In her opinion, that's where the deals will be in 6-9 months and where she thinks i should focus my rehabbing/investment goals for next fall.
anyhow, i'll keep ya posted