So Long Playboy, Hello Real Estate
The Washington Post has an article on the rush into RE speculation. "It feels as if Playboy's Playmate of the Month for May is speaking for the entire country. Fort Lauderdale native Jamie Westenhiser, 23, told the magazine recently that she is ditching her modeling career to take up real estate investing."
"In the magazine's May issue, Westenhiser poses, leaning on a computer desk next to a stack of books with titles including 'All About Escrow' and 'Real Estate Principles.' In her playmate data sheet, she writes that her ambition in life is to have a 'successful career in real estate.'"
As is now common, the focus turns very cautionary. "'Everybody can't sell all together,' economist John Silvia said. 'Somebody has to be buying. There's absolutely a chance that a whole bunch of people will try to sell at the same time. The game can change very, very quickly.'"
Some local investors say they would sell if the market turned. 'I'd want to sell while it's still a seller's market,' said Kitty Bernard, an agent in Reston who has teamed up with several colleagues to invest. 'I wouldn't want to wait until it reverted completely to a buyer's market.'"