Hotel owners, like home owners, behin...

Hotel owners, like home owners, behind on payments

There are 1 comment on the Marin Independent Journal story from Nov 28, 2009, titled Hotel owners, like home owners, behind on payments. In it, Marin Independent Journal reports that:

This Oct. 9, 2008 file photo shows the St. Regis Monarch Beach Resort in Dana Point, Calif.

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Mark Winshel

Berkeley, CA

#1 Nov 28, 2009
Awhile back, and after a period in which the price of most real estate had gone virtually straight up for several years and had therefore convinced some people that it would continue to go straight up forever, I predicted that eventually there would be a considerable pullback and that some of the most overpriced property would fall the most percentagewise.

(In other words, the price that most pieces of real estate will sell for has to sooner or later fall back to something roughly corresponding to what those pieces of real estate are worth as rentals.)

However the people I mentioned that to ranted and raved and yelled and screamed and carried on since they "knew" that the price of real estate would continue going straight up forever.

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