Why are you arguing with the Bears on this thread? Real estate values might come back, but the trends I saw on another thread indicate that the market is in the tank big time with no end in sight based on inventory levels. Your arguments ring hollow based on the trends I saw on the other thread.
Sure, if you bought long ago, you might still be in the money, but prices seem like they continue to fall. Who knows where prices will eventually bottom out and how long it will take to relieve all the inventory in the market. This area is not unique. Many, many areas of the country, especially second home markets, are getting hammered these days with no end in sight due to higher interest rates, etc.
dsilvar said:
And can you say "read the posted information"?
Let me just reiterate it for you....since you seem to have a penchant for dumb comments..
The 131 units for sale has now been reduced to 127 units and is out of a total of 458 units in both buildings bringing your "over 50%" down to 27%. From what I hear, this percentage is typical of preconstruction.
Also, the 240 pending include the ones that the original owners are buying.
Here is another beauty of yours..
Real estate values have historically come back after decreases but that doesn't mean you actually make any money. If this areas prices dropped say 30% and then stagnated for 10 years (as has happened before) and rebounded to the current levels you would actually lose money if you sold.
Huh? what? Can you say "purchase price?"
Current market prices are 200% and in some cases 300% higher than prices 3+ years ago..so given your perfect storm above (that is without any precedent) and considering carrying costs I would still do much better in 10 years than..bonds? did you say?
