Hedge Funds taking over SoCal
I'm an investor in SoCal and when I'm not at work, I'm most likely researching real estate.
Recently, via CL, I began looking into what the going rental rates were in areas I purchase - simply out of curiosity. Oddly - or maybe not so oddly - I came across several of the properties I was closely following and even pursing awhile ago with one common denominator: These recently sold properties are all up for rent. Some even using the pictures straight from the MLS.
Now, I have read several articles on BP, and other news outlets arguing that hedge funds are trying to run the market, and now that I see it in my own investing grounds, I'm in complete disbelief. Several of the properties I was outbid on, are now listed for rent.
It seems like this, in addition to Obama's recent push for the big banks to help people stay in their current properties through loan modifications is creating another bubble. The market in Southern California is steadily growing, as properties for sale are limited, and prices are only going up.
I just wanted to share my experience and see what others thoughts are. Also, I'm curious as to whether others are having the same experience in different parts of the region.
Look forward to reading responses
Most Popular Reply
You might as well call hedge funds hedgehogs as they're hogging all of the properties.
Ok bad joke "takes a bow and exits stage left" :)-