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

To: Riskmgmt who wrote (4662)	3/6/2008 12:16:41 PM
From: Real Man	Respond to of 71442

You are right, of course, and I've seen some cheap distressed properties in parts of FL as well. Generally speaking, there are less bargains to be had in bubble areas, especially given that many of the loans were jumbo, prices just started falling, and inventory levels are still very high. These may have to come down some more, but I agree with you - bargain hunting may be well warranted in some local areas in FL as well. While the price MAY indeed fall some more even if you buy in a distressed area, the long term risk seems minimal if you buy a reasonable property for 1/2 of cost to build? RE bear usually lasts 3-4 years, and we are well into the third year. Now, with cover articles like "housing meltdown" in business week, the bottom has to be there somewhere -g- Lots of bargains around, with all these foreclosures hitting various local markets. Of course, there is some risk that commodities will crash, along with the cost to build, but for now these are bargains, and I don't think a commodity crash is a given outcome of this crisis.