Foreclosures hitting investment properties hardest
This sounds right from my own experience listening to people’s financial strategies over the past few years. More than a handful of people told me their strategy was to buy many investment properties in Nevada, central California and even Tennessee. They had pretty graphs and intricate Excel spreadsheets showing how a 10% annual appreciation with increasing rents would make them rich. When I asked them ‘what if’ questions, they told me I was just being a downer and that they were sure it would all work out given how housing prices had been rising so dramatically.
