Bullish! Best time to buy... EVER!
Now that I’ve got my sarcastic response out of the way, I’ll say anybody who can’t see the deep problems in our economy is flat blind, or just can’t handle the truth, or they are too busy to bother even following the problems.
Our economy is in deep snow. It won’t last forever. It won’t be TEOTWAWKI. But it will be worse than a lot of people think it will be. Tough times are coming and I hope they aren’t too tough or too long. I’m glad I have job security. I hope those who may not are taking measures to save or cut spending or get out of debt now and not waiting before they lose a job.
The 40-year debt binge had to be paid off sometime. This might be the time, or maybe the powers that be will find a new bubble to blow and keep the dishes of credit spinning on top of the sticks. This credit crisis is for real. It is not just made up by the evil MSM to get Hitlery elected.
The world is starting to feel the effects of it now, decoupling be damned. Fake 3.3% GDP numbers be damned. Huge amounts of debt are being destroyed. Deflation is real.
Disclaimer: Past performance does not guarantee future results.
“Bullish! Best time to buy... EVER!”
I totally agree. People with the money and credit will make out like fatcats. I was just talking to the better half and she agrees that as we have been waiting for the right time to buy a better property the wait is still worth it. Home prices will no doubt drop as that 20% equity position rule kicks in. We are already seeing $700k homes go for $550 and $450k go for $325, so this hopefully will drop everything into the $275to $575k range, which is perfect for what we are looking at.