Well, well, well. It seems that even CNN Money is on to the changes in the real estate market. Although to be fair, Hayes is one of the better commentators I've read.
Click on the title to this post, and party!
And don't think of buying now. It will be tempting, but the real deals will be in a year.
Heh heh heh.
4 comments:
Well...this is bad news for those that invested in the real estate for a quick buck and have yet to pull out. For those who bought real-estate thinking they could sell it in six months for 4/3rds the price they paid. They will suffer, as perhaps they should.
However, this is good for those of us that have been living in the same housing for some 20-odd years and have been saving up so as to move up a couple notches in the housing department.
I agree, Anonymous. Econo-Girl will confess to some wheeling-dealing in the early days of the housing bubble. (and yes, I dare to use that word) She quit in 2002 after her papa pointed out a series of articles in the Economist on the overvaluation of the housing market.
Saving up is always a good idea. Just yesterday, Econo-Girl opted for slipcovers rather than reupholstery. Save the money first. I'm really trying to live by it.
Saving up is good, but not very much fun. But have no fear, I am stashing away cash with every paycheck.
And I am also looking into the house market. But not just any house! Oh no - not me! I am considering buying a hurricane damaged sailboat for cheap, repairing it, then living on it for a bit. It will be exciting. I can get a pirate flag and a parrot and a wooden leg and start saying "arrrrrr" a lot.
Boat living can be fun. I worked with a guy who did that. Imagine floating down the river when you felt like it, or the shoreline. Pretty amazing stuff.
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