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I see. People want to know about foreclosures. Some of them may be on the pointy end of a foreclosure themselves before long, they have reached record highs in the last 2 years in this country due to the boom unravelling and interest rate hikes. One place bought for $260K in 2003 just sold for $90K. Another bought for $460K sold for $240K. I've posted links to both these stories recently in this blog. Both of these 'corrections' brought asking price reasonably back into line with rental returns, pointing to prior irrational exuberance (aka 'bubble'). It would seem to me that right now IS a good time to be discussing cashing in on foreclosure sales if you had a mind to.
Peter P
2006 Sep 20, 2:55pm
I am the calm in the eye of the storm.
The "still point" of the "turning world"?
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Why did God allow the housing bubble to exist?
If this is the best of all possible worlds, there could be worse outcomes than the housing bubble.
Let's open the Pandora's Box and explore what could have been.
#housing