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Good Time to Buy?

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  • Description

    Wayne Rogers & Co. chairman Wayne Rogers on investing in real estate.

  • Duration 3:12
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You so much Nicole -- my next guest -- spent the bulk of his career as a real estate investor and he knows the entire country.

Both residential and commercial real estate.

We buy right now or what is he buying rather Wayne Rogers is here.

-- -- -- -- -- -- -- -- -- How I -- ignore you actually I like that introduction I know about everything in the country I wish I did you -- -- we're that Smart I'd be somewhere else LA.

The off Florida.

The southwest.

Parts of the rock gays I'm not wrong may be I don't know what yet I'm here -- -- -- -- city aren't even on the ace cash is.

But you have a you have a good view of real estate talk about residential farce.

Do you think that some of these markets -- talking about Phoenix are getting ahead of themselves.

Well they may be those that the stocks may be a little bit but I don't know if you bought a housing ATF right now I think that's probably.

A good investment.

They have the biggest problem in housing today -- we know all housing is local we know that from that.

Fallout of the of the recession and everything else you know California was heard -- Nevada was heard Arizona of them particularly hurt.

Those markets about -- also -- markets that are coming back very strongly now and -- doing very well.

But all housing it when you say that you do could you can have housing good in one area and bad and another area the -- -- the biggest thing that is hurting housing right now is financing.

Is the local banks are being hamstrung by the FDI CN -- not making no loans they used to make not only met once they used to make them not making all of there.

The credit is so tight that's what's hurting housing right now the housing stocks themselves -- demand by housing.

New housing is doing very well but the credit is what's hurting.

-- a lot of the buyers that you see we're talking about Washington DC a lot of dub -- property buyers down in Florida in Miami they are foreign investors there all cash buyers.

But to your point that of credit remains tight.

Did does and that does that demand eventually run dry -- do we get another downward debt and house saying when you don't.

That's ready supply of buyers coming from overseas with their pockets -- cash.

Well I.

Ed -- once again we talk about just said that the housing is mostly local you're gonna have in and a golf course in South Florida.

You have and a huge influx of south American people and Europeans coming -- because of the weather.

That's what's.

Run away -- -- on with it elected in France and people ran out of France like crazy I'm -- not not like Jerod Depardieu who immediately you know became a Russian citizens.

But -- people left France.

That helped the New York City market for example a lot of French people came over and bought condominiums that things so things like -- anomalies happened in the market from time to time that help housing.

But I think in general housing his bill is still going to be there's going to be demand it's -- it's not gonna be cut off.

Credit is they have to -- at some point the FDIC has to back down on some of this at some point.

-- it was great to say and thank you for being here thank you how come back OK our thanks anything good to see you might rod.

He is on top.

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