Southern California Pasadena LA Times Reporter Renter
January 19th, 2008Three pages long, but an interesting read:
http://www.latimes.com/business/la-fi-shortsell20jan20,0,1815515.story?coll=la-home-center
How we cashed in before the housing crash
Friends thought he was nuts when a Times reporter sold his home and started to rent in 2005. But for him, the warning signs were just too hard to miss.
By Peter Y. Hong, Los Angeles Times Staff Writer January 20, 2008
Our friends said we were crazy. Relatives asked whether we were in financial trouble. But in April 2005, my wife and I bailed out of the American dream. We sold our two-bedroom Pasadena condominium and became renters again.
We got nearly three times what we had paid for the place nine years earlier. It seemed to us like a staggering profit — and a sign that the market had been pumped up beyond reason.
