[quote=tlefort]On a general note, as far as picking a bottom. No one, and I mean NO ONE knows where the actual botom is until we are all looking back years from now. All we have is data and statistics. ”
It makes sense to me that when it costs more to build a house – just a house, no land – than it does to buy an existing property with a house on it then we are at the bottom. The land my house is sitting on is effectively worthless right now. Construction costs remain relatively the same while land prices fluctuate wildly and what fool is buying land right now?
A 4-acre property with a killer view and a 2005 manufactered home in Aguanga just went for 85,000. The home itself probably cost 120,000. Can’t get much more bottom than that!
