Another interesting housing prediction from 1998, and one which home buyers regret reading at that time.
businessweek.com
It seems we now live in a bubble society since bubbles are all over the place. In car prices and loans, in credit card use. In Mall ownership and industrial lease agreements. At Vegas Hotels and Casinos.
What wild and crazy guys, us Yanks.
I heard about a man in Calif ten years ago, bought a house for $1.2 mm, couldn't make payment, but could sell it for $800k. He was considering bankruptcy, until he found he would still have to pay for the difference of $400k on the house sometime.
No , I dont know how he made out in the end, but he should have used all means to keep the house!.
My assumption is that we will get clobbered by inflation sometime. ( I guess $2 gas does not qualify)
And a man needs a house over his head to protect his Ferraris, golf clubs, hunting trophies, DVD player and speakers, etc.
Sig
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