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Depend on what price you offering.
20% below the the asking in so-so area,
15% below the listing in some good area
Then it is not too early to buy. Bottom line is,
. Offset the lost for next 2 years
. Avoid the crowds that are waiting on the sideline and hesitate to take the first step
No free lunch, No risk no gain.
Good luck
I am stopping my spending of anything and everything for political sake. The manipulation must stop! I love Denninger's ticker today
http://market-ticker.denninger.net/archives/1174-Starve-The-Beast-July-4th,-2009.html
Tomrisk, you've got it completely backwards. Bad areas are closer to correctly priced, good areas are nowhere near correctly priced. It should read :
20% below for bad area
35% below for so-so area.
50% below for good area.
Thinking of buying some new ETFs:
The MacroShares Major Metro Housing Up, an exchange-traded fund that tracks the cumulative change in the S&P/Case-Shiller Composite-10 Home Price Index, started trading today on the New York Stock Exchange with a value of $20.03 at 10:04 a.m. New York time.
The Major Metro Housing Down, which allows investors to take the opposite position, betting that home prices will fall, began trading with a value of $30.92.
The federal reserve is still manipulating the housing market by buying and holding huge amounts of mortgage backed securities. This action keeps interest rates artificially low and housing prices artificially high. This policy is not tenable.
People should not buy housing until at least the market forces the fed to change this policy.
#housing