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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (8191)	8/27/2007 7:43:51 PM
From: Poet	Respond to of 33421

Exactly. As I reported a few weeks ago on the REC thread, we sold our home-- after 13 months and three hefty price cuts-- for 22% less than it was originally on for in June 2006. The buyer has been imperious and has threatened to walk on the sale if we didn't meet every demand after the inspection, which included, in part, an $8000 further reduction because part of the roof (it's a c. 1850 house) will need to be replaced in five years. We close on Friday. Still, we're feeling quite relieved. We have no mortgage and have bought a smaller house, managing to bank almost $300K for retirement. And this is in coastal CT. The bloodbath is just beginning, IMO. And it will be very sad for many many folks.