With $600k to invest, why would you want to put that into real estate?
Bay Area home prices are among the most overpriced in the country and are headed for a catastrophic fall. The outerlying parts of the bay area are already seeing devastating price drops--slowly, the price falls are creeping in to the most prime areas, such as Palo Alto.
The book Irrational Exuberance explains a great deal about why the bubble occurred, and how it's demise will affect EVERY corner of the country, not just the overbuilt areas.
Check out this artice:
NEW YORK (Reuters) - One-tenth of U.S. homeowners hold mortgages that are larger than the worth of their homes, Moody's Economy.com said on Friday.
Nearly 8.8 million homeowners, or 10.3 percent, are in over their heads, its chief economist, Mark Zandi, estimates.
As a result, millions of U.S. homeowners have the incentive to abandon their properties.
Also, check out this one:
There couldn't be a worse time to buy a home. There couldn't be a worse return on your $600k that putting it in real estate.