Is Disneyland Over For the SoCal Real Estate Market For Awhile?
By John DL Arendsen, Crest Backyard Homes "ADU" dealer & RE Developer
(CREST "BACKYARD' HOMES, ON THE LEVEL General & Manufactured Home Contractor, TAG Real Estate Sales & Investments)
Is Disneyland Over For the SoCal Real Estate Market For Awhile? We're starting to see lenders, buyers and investors doing a lot of crazy things that slightly resemble the crash of '08. I'm not suggesting there will be another crash like that. But I think it might be time to start paying attention to some of the experts.What we are starting to see over and over again are folks borrowing against their equity, some several times over, and investing in the F&F market. Interestingly, lenders are funding them. Sometimes on multiple occasions as long as there's equity in the home.I know of several folks that have done this repetitively and are now sitting on multiple overpriced properties that are not moving that quickly if at all. In the meantime their equity is not only tapped out on their o...