Sooner rather than later……..Think 1929…When it finally does happen, it will happen so quickly it will make ones head swim. I anticipate a major decline by this time next year. 2007 will be a bad, bad year for real estate “Investor/gamblers”.
If you are in your 40’s now, you may want to revisit your thinking on owning anything. What do you REALLY get with that moniker of “Owning” anyway ?
When the financial markets dry up/ tighten liquidity, the real estate prices will crash, when the real estate crashes, the banks holding that goofy paper will fail soon there after (1931 had 1,883 banks fail in one year) and the forclosure process has happened, THEN if you want to “own” something, feel free to buy….but why ? The next cycle will take at least 10-20 more years to peak again, how old will you be then ?
