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really! last time I read real estate was declining.
Embraced too much debt for prices that aren't sustainable. Exactly! Prices will need to match what people can buy. There's a small slice of families that can afford homes priced above 300k. There should be a small slice of inventory available at that price point.
The REST of the real estate inventory should match the REST of the income spread. Period.
Easy for a Banker to say.
Our house dropped form $480,000 to $299,000 in 18 months.
The only thing keeping us from walking away is that we bought it for $225,000 10 years ago so we still have some equity.
So much for our kids going to collge, my retirement and serving a Mission with my wife.
Banker, Lawyers, WallStreet = Gadiantons
Don't give up on your dreams so quickly. The economy will turn around. There are always cycles. The future looks brighter than you can presently see.
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