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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (264193)	7/26/2010 6:10:41 PM
From: Skeeter Bug	Respond to of 306849

SFG, here's some advise - take it or leave it. 1. don't buy a condo due to the risk of your dues going up as others can no afford to pay dues. 2. don't put a time frame on buying a home just yet. be flexible. you might be able to eventually buy a home near the beach for the condo + dues money. in fact, i suspect you will. it might be 3-6 years out, but it is better than eating losses. think of rent as paying someone else to take the house depreciation risk. the best time to buy will be when the banks capitulate and all that inventory hits the market at once. 3. DO NOT buy chinese dry wall. double check you aren't buying chinese drywall. 4. save your cash outside the the bankrupt financial system. return of capital is paramount right now, return on capital is extremely risky. save, save, save. housing could easily fall to 2x incomes... lower in many cases.