AAbsolute
Banned
The divergence rate can only accelerate daily in a downward market if there are more homes vacant then there are homeless people.
Think about that divergence concept one more time.
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Geithner lays a toid on R.E. market
- Thread starter ClintClint
- Start date
The divergence rate can only accelerate daily in a downward market if there are more homes vacant then there are homeless people.
Think about that divergence concept one more time.
My advice for a "relatively" safe investment is to not buy anything that hasn't fallen 50% from its 2005 levels. There is not anything I have seen to point to an end to the RE slump. And the only glimmer of hope was dashed with the lower tax credit for only first-time home buyers on primary homes. I just sold a nice home in a gated community for 60% of what I payed in 2006, but I see an additional 20% of downside in the near future due to existing and pending foreclosures and no sign of appreciation in the next 5 (maybe 10) years. Sometimes you've got to know when to fold 'em.
Matt J
SWGB
I've got to find the picture I had of the Grayton home with a $1.2 million for sale sign posted in front of it. For quick reference this was the house on the CAA Valentine tour of homes. It was one of the original cabins built in Grayton about 1890. I realize that the price was clearly for the land and the structure wasn't included, but I'm still glad that no one "invested" in this property.
SHELLY
SoWal Insider
You're correct. Both rates (vacanies and homelessness) will be rising as the housing market continues to tank--except in the areas where the homeless have taken to squatting in empty homes.
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