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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: stan_hughes who wrote (4650)	3/6/2008 10:37:04 AM
From: Real Man	Read Replies (2) \| Respond to of 71441

There is a limit to any distress. A house like that will cost north of $150 per square foot to build, and that cost won't come down any time soon, with Ben's foot on the monetary gas pedal. So? It IS cheap. Buying RE at auctions is a huge risk, of course, and one CAN overpay. But I still think you can get a lot of bang for the buck there, if you are careful. With so many properties on sale some might attract few bids. The fact is, you can also get an instant double of your money there if you are careful. This is a big sale. If I can see any value out there now, it's in US RE in SOME areas. US mid-west comes to mind somehow. These houses never went up big time and are now selling for pennies, extremely distressed RE markets. No way I would shop in CA, DC or South FL. Chicago and NYC also seem expensive. You could be buying for 1/4 of cost to build in Michigan. IMHO.