RE Science Fiction In Hollywood
What would a Monday be without hearing from "Julie in Hollywood". If you'll remember last time she went on a weekend in Palm Springs and nearly bought a house. This time she gets worried but her RE pals talk her down.
"'Time to get out,' I told my friend, the developer. 'Take the money and run. Go live on that desert island and drink drinks with pink umbrellas sticking out of them. Done.'"
"'Are you kidding?' my friend asked. 'I just bought four more properties that are old hotels that I'm going to be tearing down and turning into million-dollar townhomes. This is no time to be cashing out. You can't believe what's going on down here.'"
She calls her better-half the level headed one, but he sounds like he's seen too much Star Trek. "My husband has less emotional thoughts on the subject. 'Real estate is the perfect capital market scenario. This is the time for pioneers. To branch out into areas that are rapidly becoming re-gentrified before everyone else wakes up and drives the prices up there too. There are still a few bargains out there but they are few and far between…and your neighbors might still have bars on their windows."