Its beginning to feel a lot like 2005 everywhere I look

[Drew Y.]

So I have been watching the interest rates as they have begun to rise and the notional value of risk free treasuries and ten year treasury bonds are approaching 3% . Given that the CAP rates in the San Francisco bay area are now approaching the 3-4 % rate do you think its time to start moving some money off the table in the coastal areas in into more risk free assets or into areas of less price appreciation and more rental yields (Atlanta, Minneapolis , Kansas City )

[Jay Hinrichs]

the major difference is those investors entering the space ( rentals) are far more qualified and have far more skin in the game than in mid 2000's  this alone makes for a much stronger over all mortgage market.