What Real Estate Phase are we in right now?

[Lazaro Dinh]

Is it safe to say we are in sale Phase 2? It seems good deals are harder to find and most of my Investor friends are off loading their portfolios. What do you think?

[Chris Mason]

Originally posted by @Lazaro Dinh:

Is it safe to say we are in sale Phase 2?  What do you think?

 If anyone claims to know that, your next question should be "OK, so you claim to 'know' that... why are you talking to me? Why are you in Oakland meting with me, and not on Wall Street charging $25,000 an hour for your knowledge and services?"

I get this question about "where rates will go" all the time. If I knew, then doing your refi wouldn't be the highest and best use of my time! I'd be engaged in lawful insider trading on Wall Street...

(Insider trading is legal for real estate, ask any builder.)