Jam - REAL ESTATE RUN - exiting real estate

[Sir X]

Here is a classic example ... lol, cant stop the hustle.


https://youtu.be/l5iN6z3ZnrY?si=qdScnoVuadaRYPZb

[Sir X]

LIAD !. I was on the Air BNB band wagon up to the last 2 years, when I was exploring to do one in JA . All my research led me to believe the market is inflated, speculative and it didnt justify the prices given the size of the middle class and overseas interest, returning residents , forgein buyers etc. The inflation just bust the bubble. The PR that goes into it is world class, the prices seem to have dropped on the Jamaican MLS also, finally , hopefully the middle class can get in now and trust me the surplus might be on the market for another 2 years.

[Assasin]

you been saying it for 10 years. You must be right at some stage. How much has the US price gone up since then. Do you realize there is a big slow down in the US? Construction will be fine Harmony cove coming online, 20 Billion for roads, and nuff project a gwaaan. It might slow a little but no bust bubble thing. At least they can make money in manufacturing.

[Sir X]

Say it long frigging time , its a PONZI SCHEME . The income disparity of the middle class to houses built , coupled with world wide inflation , doesnt justify the prices. It will and must show in the sales, the Jamaican MLS does not give you the tools to determine this , like the MLS in the USA. You have to rely on a realtor , who is going to blow smoke up your ass who wants his $sale$ commision

[Sir X]

More focused on the expansion of its core manufacturing business, the company, in announcing the decision, had earlier pointed to issues concerning construction delays, a softening of the real estate market and a slowdown of sales among its top reasons for parting with these holdings held under its subsidiary, H Mahfood and Sons.

After offloading one of its Harbour Street properties for $73 million in 2023, the company said it is now actively preparing to divest additional investment properties this year.

https://www.jamaicaobserver.com/2024...oogle_vignette

[Sir X]

Slow sales of residences in the latest housing development done by the Jamaican Teas group has left the company ruing the opportunity cost of tying up valuable funds in real estate when it could be making money otherwise.

The company said over the past nine months to June, it began the process of exiting its real estate activities.

Of the 30 units in the Belvedere that came to market last December, Jamaican Teas has so far sold only eight, each priced within the $28 million to $30 million, the so-called “sweet spot”.

https://jamaica-gleaner.com/article/...ng-real-estate