No we are not. I’m not talking about real estate when it comes to making money in good times and bad. Real estate won’t be at true bargain basement prices for another several years or more. I’m talking about learning how to make money in a bear market, which most people (unfortunately) are psychologically unprepared to do.
Years ago I worried about friends who didn’t handle their money well. I worried because they wanted to take vacations and wear $700 suits but they didn’t save and weren’t looking to buy their own home.
Then I realized, it was their preference. And the more people who were like them, the easier it would be for me as a landlord.
Of course now, in D.C., our legislators are putting together a package to bail out these folks. *Our* tax dollars will be used to pay *their* mortgages. hmmm...I wonder who the smart people really are.