Quote:
Originally posted by turbo6bar
Consider in 2005, 40% of existing home sales were for second homes or investment. The historical average is 9-10% via David Lareah. There is little probability of a soft landing when volume drops off by 1/3. Everywhere I look, volumes are growing. Everywhere. Inventory levels are an early warning of the impending tsunami. You can run for higher ground, or you can sit and stare at the pretty waves on the horizon. [/B]
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New construction is OVER___BUILT!
You'd be amazed at the number of existing homes on the market that are vacant. gonna take a while for the snake to digest this elephant...