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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Ish who wrote (183157)	3/7/2006 5:00:08 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 281500

Around here $330k will get you a new 5,000 sq ft home with a 3 car garage on a half acre lot. Believe me, I've thought about it. When I left for Iraq, I sold everything... Was basically homeless when I returned. So I rented a decent, but relatively inexpensive, apartment here in the N. VA area because I have friends and connections here. But my dream is to expand this nest-egg a bit over the next year or two and then move to the Caribbean and trade from there via satellite connection. A few of my friends bought condos, or houses, while I was gone and all I can do is shake my head at what awaits them when the real estate bubble collapse accelerates. We're already seeing an increase in foreclosures, likely from "interest-only" borrowers who are facing bankruptcy because their dreams of flipping their house are not going to be realized anytime soon. I think in the DC area, it's not a bad idea to wait it out by renting until I figure out where at I want to finally settle down. Hawk