Quote:
Originally posted by Wayne at Pelican Parts
Seems like you might want to cut and run, since you didn't buy it for an investment, and values seem to be tanking everywhere...
-Wayne
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Not sure I agree with you on this Wayne - 3rd Q 2006 vs 3rd Q 2005 - out of 148 metro markets 102 had price gains in median - 21 metro areas had double digit gains - 45 had price declines.
Salt lake city had a 19.2% gain for example. (hell, even SFO had a 3.8% increase) Yes more inventory out there than last year = but last year there was obviously a shortage of inventory because prices were being driven up at an alarming rate.
I don't subscribe to the doom and gloom real estate theory. In the areas where there are jobs that support the lifestyle, I think the RE prices will moderate. On that note, I wouldn't want to own a house in an area where the big three automakers had a presence.
The attention span of the american consumer is around the same lenght as the knat. 6 months from now, we'll be worrying about the TomKat split...
