[quote=peterb]I have no problem seeing 1997 prices in the next couple of years….and the reason will be that no one has money to buy a house. Careful what you wish for. I’ve said it before on this site many times….when prices get to where everyone wants them, it will be because the economy is on life support. Will you have a job and the desire to take on a big debt in this situation??
I think fear will rule the day, not greed.[/quote]
OK. I agree that’s one possible scenario. But Warren Buffett said, “Predicting rain doesn’t count, building arks does.” So what do you suggest us to do now to prepare for that? Starting to hoard cash so that one can pick up a property with 100% cash at low-priced area at that time? But if things are that bad, shouldn’t people really start to worry about the low-priced neighborhood turning into ghetto?
How can we likely profit from the above scenario or you think we are doomed regardlessly?
