In case you haven't seen it....
Here's a chart that says it all - right now we are in the most UNCHARTED territory in the history of real estate in the US. Where DO we go from here?
History of Real Estate
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Will Florida ever become an affordable place to live again? Only time will tell, and you'll be able to read about the journey (to sanity, or maybe not) right here.
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- A Sign of Where We're Heading
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- Nothing for Certain in Florida Except Death & High...
- NAR - 2005 vs. 2006
- Affordable Places to Live
- Florida - Now #1 in Foreclosures
- A Cautionary Tale from Japan
- A Good "Use" of Your Tax Dollars
- More Food for Thought
- NAR's Forecast - Going Down, Down, Down in a Burni...
- House Values - A History Lesson
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8 comments:
(to paraphrase my good friend, Keith Jackson)
Whooooaaaaa Nellie!!!
THAT chart is seriously scary. The last time the price went up that high and prices leveled at the higher level was WWII. And even then, it was because we came out of the Depression.
Scary, scary...
How can any rational economist/analyst/soothsayer make any sense of prediction based on that?!!!
This is one hell of a predicament, and most folks are completely in the dark.
Good luck to all who are trying to sell over the next 5 years - eeeeps!
What goes up must come down. How farrrrrr can we go? Are we hovering before the fatal plunge? Or are we really doomed to spend 2/3 of our incomes to call ourselves homeowners?
Myself, I feel good that I got in before the climb, and I'll be fine if it all resets to pre-2002 levels.
My problem: the fear of a recession/depression if a housing dump triggers outright panic.
No panic to worry about. The gov't will bail the lenders, who will suddenly have plenty of commercial rental builders to lend to during the next wave (gonna need a lot of Rent Complexes to house all of the foreclosure people over the next 7 years).
Could this be considered "Investment Advice"? YOU make the call.
Man, this is just like the part of the roller coaster when you're just cresting over the top - lookout belowwwwwwwwwww!!!
So sad that this roller coaster is going to set a lot of FB's into BK.
:p
Of course further up!
Suzanne researched this!
YIKES!
Look out beLOW!!!!!!
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