Sigh. Me and one of my friends whom I talk about real estate with knew this was coming, which is why we avoided buying property a few years ago (notwithstanding buying and flipping in a short time). A quote from Countrywide Financial’s recent conference call:
“Company is seeing home price depreciation at levels not seen since the Great Depression”
From The Big Picture (read for much more)
I just hope that all of my homeowning friends weather the alleged upcoming softening/crash of the housing market okay. No ARMs, you hear? No ARMs!
which also means… it’s the ‘time’ to BUY!
Not yet, Hui, not yet. It hasn’t gone down much yet, but it looks like it will go down a lot more before it flattens out?
oh how soon… how soon… need a house soon so i can throw fun parties where drunks walk out
testing ftw