Tomorrow, I am off to Baltimore,to check out various neighborhoods. A friend and I will be visiting open houses there. The Baltimore area has experienced 22% 1yr appreciation and 83% price appreciation in the last 5 years ( OFHEO Report September 1, 2005) .
Baltimore is a bubble market. A neat report on my field research will follow. :-) On the left is a picture of house in the Federal Hill neighborhood.
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ha ha ha! it's going to be quite humorous to see the "investors" up there get crushed. i was just up there today. they've got the WORST traffic ever. EVERYTHING is run down, too. i think you'd have to have a hole in your head to live up there.
ReplyDeletei haven't really done the work to see what the "rent to buy" ratio is, but given the appreciation up there, i'd bet it's pretty low.
Looking forward to your report... if you come back alive.
ReplyDeleteBaltimore was a great city even into the 1980s and parts held out into the early 90s. It is a disaster now. Nothing "real" has happened there, but there is a lot of renovation going on. It'll be interesting to see what you find.