Jack in the Beanstalk Meets the Jolly Green Giant
They are called the Jack in the Beanstalk Crowd. Those folks who
believe that cycles are no more, that history has nothing to teach
the now generation, and that Real Estate can only continue to go
up, up, and up.
One thing you can always count on is change. While your junk
mailbox may still be filling up with how to make a fortune flipping
real estate, the fact is, the real estate bubble in many parts of the western world is about to burst with a resounding pop. With a little patience and by keeping your power dry, or better yet, amassing a nice cache of silver and gold coins, you will soon enough be able to buy all the real estate you can possibly imagine for pennies on the dollar.
It will take awhile for the real values and big time savings to appear as the untenable absurdity of the mortgagers position becomes ever apparent. Despite their denials, millions of nouveau home upscalers who have been living high and feeling smug and rich on borrowed money, will need to bail.
The real estate value dam is already cracking much the same way the levy's were breached in New Orleans. Property is taking longer to sell each successive month, and interest rates have just begun their long climb upwards to keep pace with inflation and unhappy international bond investors who have been carrying the ever mounting US debt.
Americans in particular have been paying their bills for years now by refinancing their houses or selling each other ever more overvalued properties. The music is about to stop and there are few if any chairs remaining for the participants to sit on. For those who wake up in time, there may be a chance to unload their burden on a greater fool. Selling and getting out of debt should be a priority, even if the result is downscaling to an affordable rental accommodation. There will be bargains in real estate galore soon enough for the astute observer.
One way to keep tabs on what is happening in the housing market is to watch the foreclosure listings. (See Realty Trac in the lower left column) It is kind of tricky to buy real estate on the way down, but if you want or need a house, this is a good way to find what you want and at a considerable price discount. Once the ball really gets rolling you can probably name your price as lenders try to dump a mountain of unwanted repossessions.
Happy Thought Lifestyles
Be in the Know ~ Know what to Do ~ Make Sense of it All
where substance trumps triviality, quality finesses quantity, and synergy prevails over contention