LIVING OFF DIVIDENDS & PASSIVE INCOME

There’s a good article in the local paper on how San Diego is saturated with Condo Conversions that aren’t selling. There are nearly 7,000 units in 111 complexes sitting on the market. In fact, in some places the developer has decided not to continue to sell them and just keep them as rentals.

As a comparison, Los Angeles which is 3 times the population of San Diego has only 1,325 units!!!
Thats how bad the market has stalled here.

You can read about it here.

I actually know 1 guy who’s been burned by this. He’s stuck with tons of inventory that he overpaid for and can’t even breakeven if he rents the units out. I guess he didn’t have a backup plan.

• Housing Tracker Just found this great website called Housing Tracker.It lists some of the larger cities and shows the pricing/inventory trends for the past 6 months.I'm glad to know that inventory at my favorite city Salt Lake City, is down to 2,116 from 5,308 in 6 months. for a city with 900,000......
• Real Estate Meeting - John Schaub Went to the local real estate meeting. I think San Diego has the best REI club in the nation and probably the world. Its non-profit and all profits go to the library. John Schaub was last night's speaker and he was pretty funny and made a couple of extremely valid......
• People Fleeing San Diego! Well maybe they're not fleeing yet, but they've started to leave. According to an article in the Union Tribune, there was a net exodus of 43,126 people from San Diego county last year.County demographers have forecast a long-term flattening in growth, although not a population decline. Housing analyst John Karevoll......

• 5.8 earthquake shakes San Diego area [/caption] SAN DIEGO - A magnitude-5.8 earthquake in northern Baja California rocked the U.S.-Mexico border region Wednesday, causing buildings to sway more than 100 miles to the west in downtown San Diego and southwestern Arizona. The main quake was centered about 20 miles southeast of the Mexican border city of......
• The Market Falls While Congress Stalls: My Plan Revisited When the U.S and international markets experienced their first drop following the failure of U.S. investment banks, Mr. ToughMoneyLove described his tactical money moves in response.  I then described why doing nothing aboout our investment allocations was an appropriate strategy. Yesterday's market crash was yet a new event to consider because of......
• Living Well: 21 Days to Transform Your Life By Montel Williams Montel Williams is a pretty popular talk show host with a rabid following, and given his journey with his own personal health, it is not surprising to see a book from him. This was actually a fascinating read that will provoke a lot of thought and we were not prepared......

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