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A fascinating story in the New York Times earlier this week noted that some investors—burned after the stock market bubble burst earlier this decade—put part of their IRA or retirement account into real estate. Real estate bears are going to view this as another sign of the apocalypse, but it strikes me if done right a good real estate investment could throw off a nice stream of income for the golden years. That said, I certainly wouldn’t try this in one of the bubble markets like southern California, where the runup in housing prices means that monthly mortgage notes exceed likely rental income. I’d be curious to know if any of our readers have tried this and what their experience has been so far. Any one have personal experience here?
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.