An $800K house would cost $200K in Omaha. My parents house was featured in Architectural Digest back in the 1970s when it was built. They insist they cannot get a penny over $450K for it. You can get foreclosures in Omaha for under $100K. There are still cheap places to live. But lenderbubblecompany, why are you tired of waiting for prices to come down? It’s already happening. I’m also concerned that the lending bubble will cause home values to decline nationally. I don’t believe there is a risk-free real estate purchase anywhere in the US. By risk-free I mean safety of principal is guaranteed. Even a purchase in Omaha is too risky this year. After a year of foreclosures, what will the market be like? Of course you can find cheaper places to rent.
