Slowly the news is coming in. Real estate is starting to pull out of the tailspin. Some of the news is mixed other confusing but generally the trend has been positive. Dallas is up 6%, San Fran 14% and Phoenix is up 20%. We basically need one year of this good trend to pull back up to 2005 prices, which are probably fair prices given all the years of inflation that have passed in this 8 year period.
Real Estate is starting to seem knowable, stable. It’s in the crapper but its going on so long no one can wait to buy houses. Slowly the machine must march forward. Regardless of the five million properties that the banks sit on and refuse to put on the market. These need to be bulldozed, most have rotted beyond belief. They are only there to prop up failed banks balance sheets.
No more 30 yr mortgage for me, I want free land, no HOA, no taxes. I don’t want that lack of security. Knowing that if you ever get sick on the standard plan they take it all away from you just isn’t very appealing to me.