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This article in one of the San Francisco newspapers talks about a single mother of three, who following a divorce, decided that investing in real estate would be her ticket out of her troubles. She bought one fixer-upper, then a second and…today she has eight vacation rental properties that have enabled her to make $1.3 million in equity since she began. But now she has $2.3 million in mortgage debt and negative cash flow that ranges from $5,000 to $15,000 monthly depending on the season. Sorry, I don’t have the stomach for this…
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.