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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: RockyBalboa who wrote (180987)2/1/2009 8:15:00 AM
From: Think4YourselfRead Replies (2) of 306849
 
Item one in that article, "Eliminating the tax breaks for mortgage interest payments", is going to happen for at least non-primary homes. It has to. When it does all those "investors" who have been buying extra properties are going to get creamed. Most will be blindsided, despite the fact that it's already obvious it's coming.

This country has WAY more homes than it needs yet many people are foolish enough to think home prices are going back up soon. I personally believe that when prices finally bottom a few years from now they will flatline for at least a decade. There is no economic rule that says what comes down must go back up. Supply is very high and true demand is virtually gone. A few will make money in real estate. The rest will be stuck with years of mortgage and/or tax payments on assets they can't unload without taking a large loss.
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