Granted, the end has been nigh in real estate for at least as long as, say, Alan Abelson has been calling an equity market top over at Barron’s, but you have to be at least slightly dismayed at recent news from the property business. Leaving aside the headline that San Francisco real estate is still busily sky-rocketing, my favorite piece of “end is nigh” news comes from a Reuters story today.
There are apparently now companies that will buy real estate for people, you know, too busy to miss out:
One, Redbrick Partners, is buying up portfolios of single-family homes, renting them out, and packaging them in investment partnerships. Another, Signil Wealth Network, says it’s out there shopping for individual properties for investors who want to buy real estate but don’t have the time or inclination to do their own market research.
Gosh, if only there had been people whose job it was to prop up doomed dot-coms in the waning days of the tech boom. Oh wait, there were people like that: Analysts.