The hot real estate market has cooled off in Michigan. Air is leaking out of the real estate bubble nationally. Interest rates for home loans has gone up to about 6.2% on thirty year financing for people with strong credit.
(Learn More?) What were naysaying Freepers saying just yesterday? Oh, I know what it was: "Prices are still going up in fly over country . . ." and "There is no bubble here." Some were saying that the bubble is limited to the coastal regions. Looks like you are wrong yesterday. If you are wrong again tomorrow, the real estate bubble may burst with a huge negative *BANG* . . .
I've just invested in another home; it is just about rented out after only two weeks on the rental market.
I am not going to let anyone know where this house is, but I paid a fair price for it on a standard 30 year loan. It is in a beautiful part of the country...where home prices are moderate and annual appreciation is running steady between 4 and 9%.
And, no...I'm not going to divulge the location. Far too much "doom and gloom" on this thread.