San Francisco Bay Area Real Estate Correction
So how much longer can this boom continue around here? I live in Palo Alto, where I have my main residence. I own rental properties in San Mateo, Foster City and East Palo Alto. The one in East Palo Alto I only purchased a couple of months ago, and already I am sure it has appreciated by 60K, if not more.
I am looking to purchase more real estate but there are problems. Right now I am maxed out in terms of liquid cash. I have a LOT of equity on my houses, but, as many of you know, around here you've got a lot of deep pockets (and some of it dirty overseas money) that shows up with a suitcase of cash and pays straight out (beating out those who have to acquire loans).
The other problems is I am just wondering how much longer this boom can continue. Am I going to get caught holding the hot potato? :)
Given the above two issues, what do you think? Should I look outside of the San Francisco Bay Area to invest? If so, where?