Note the info regarding the investors in Naples - there has been investing like that here as well: One partnership bought five properties in Old Palm - with a long-term mindset.
<-(Photo by Chester Higgins Jr./The New York Times) Greg Rand, managing partner at Better Homes and Gardens Rand Realty.
THE last thing most people are thinking of investing in right now is real estate. The collapse of residential values stung almost all homeowners. And the commercial market, from offices to shopping malls, is full of uncertainty as unemployment rises and consumer spending continues to be weak.
“Florida is in a storm right now,” said Greg Rand, managing partner at Better Homes and Gardens Rand Realty. “It’s overdeveloped, overspeculated and overleveraged.”
Yet there are those who argue that this is a once-in-a-generation opportunity to buy property. Greg Rand, managing partner at Better Homes and Gardens Rand Realty, a brokerage in the suburbs north of New York, even has a theory to guide investors. He calls it “house rich.”
Read on, or perish... http://www.nytimes.com/2009/08/08/your-money/08wealth.html?pagewanted=1&_r=1
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