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

To: ggersh who wrote (27604)3/23/2010 3:49:49 PM
From: Real Man  Read Replies (1) | Respond to of 71477
 
As a whole, yes, but you will be able to find a lot of properties
selling for half price or less, shortly. As I mentioned, due
there is a pipeline of foreclosures, which is clogged due
to govt. measures. These will expire shortly, although the
congress is already working toward extension.

I agree with you, housing will come down more, but eventually
it will bottom within a reasonable time frame, probably next
year or in 2012, when the peak of ARM resets hits.

In the meantime, hunting for foreclosures will get you a lot
of home equity, regardless.



To: ggersh who wrote (27604)3/23/2010 4:02:24 PM
From: Real Man  Read Replies (2) | Respond to of 71477
 
It's a downward debt spiral. People lose jobs and default, the
home is foreclosed and sold at half-price, home prices in that
neighborhood go down, people lose more jobs, etc.

Eventually it ends, because houses can't sell for half the cost
to build forever. Some sure did in 2008, and another wave
is coming. IMHO.

FWIW, these foreclosed homes spent a day on the market, or so.
Not longer. I looked -g-


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