Ali,
I took you off ignore because I read something in this mornings WSJ that I thought you might find interesting. The article is on page D1, titled "The Housing Bubble Loses Some Air", and starts out with:
"When Michael Peterson and his wife Yevette bought their three bedroom, two and a half bathroom house for $295,000. in Austin, Texas in November 2000, they paid full asking price. "If you didn't snag it quickly, things were gone" says Mr. Peterson, who moved to Austin to work for a dot.com.
A year later Mr. Peterson was laid off, and the couple decided to sell their home. They put it on the market for $295,000, but got no bites. After three months they lowered the price to $268,500. Last month they sold for $265,000.
In a potentially troubling development, a small but growing number of homeowners are selling their homes for less than they paid. Owners of high-end homes are facing the biggest problems. While many of the cities involved are not surprisingly high-tech areas like Austin..."
So what do you think, Ali? Could those government figures about low house appreciation in Austin, Texas be correct? It must be tough, the double whammy of losing money on AMD stock and your house.
John |
