I would agree that housing isn’t like stock, but over the past 5 years it has been, so why not treat it like stock? AKA the real reason why there is a piggington blog.
from what I understand, you can adjust your property tax if your value goes down.
I still think in 2010, you’ll be safe to buy. This down turn isn’t going to last forever. There are too many people like us just waiting and watching. Waiting takes a long time. If all of you can just wait for 2 or 4 or 7 years, that’s good business, i guess.
Bottom line is, no one knows exactly. All we know is right now isn’t the time. I just don’t see how this sag can last longer than 2 more years. It already had 2 years in the bank.
how does this figure.. My parents bought a house in 1974 for $27,000. It is now estimated around $640,000. It took 30-years for it to appriciate to this amount. If housing continues this trend or something like it, a $375,000 home purchase in 2005 will be work around 12-million in 30 years. This seems crazy, is it possible?
