SoCal: Sellers Market with No Downturn Insight
Having been a SoCal multi units investor in the valley for sometime, I have seen both the highs and the lows associated with the market. And right now, I feel a bubble rapidly developing, as almost everything from, single family residents to multi units that hit the market, are entering escrow within 30-60 days, and closing at numbers that make no sense.
Even previous expired listings, re-entering the market, and selling for above asking prices.
Something has got to give, and hopefully soon. It's reminding of the previous inflated market where investing in SoCal real estate didn't make sense.
Thoughts? Opinions? Collapse? I'm hoping this bullish run comes to a screeching halt, as I don't plan on investing out of state, and I don't plan on purchasing properties with no cash flow.