Breeze, Housing starts have gone down. Also resales have gone down. Unemployment is down but the length of time people are remaining on unemployment is increasing. Your time frame may be just right, I'm thinking about a year from now also to the end of 2002, thats why i'm getting all of my credit straightened out now and it gives me more time to build up a bigger down payment. All I know is that I wouldn't buy a house right now. Me and a friend of mine went and looked at a house 2 weeks ago in a not the greatest neighborhood in san diego. 2 bedroom, 1 bath, kitchen, livingrom. Overlooking the freeway, tiny yard. small small small $239,000...this can't go on forever....who knows in san diego it might. But rents are now starting to come down. $700.00 to $800.00 for a studio in a pretty safe neighborhood is ridiculus. I just noticed a place that has been up for rent for a while. It had a big sign on it: "RENT REDUCED"
Fortunately for us here in the Tidewater area of VA, real estate is almost always good. The only time I recall real estate market slowing down was during Desert Storm, LOL. Military installations = stable regional economy. John Warner makes sure we get to keep our military installations, breeze
Re: Hey leo!!! Prices can not continue rising at these rates for much longer. I live in San Diego county and here things are probably higher than most places in the country. I have read that the average home price is about 285 to 300,000. Thats pretty insane. This just cant continue at this rate. If it did, then only millionaires could afford live here within the next few years. It's just like the stock market, if it goes up.....well we all know what happened there.
Re: Hey leo!!! COME TO COLORADO...I'll sell you my house for $200,000 OH........NEVERMIND...I'LL HAVE TO BUY A NEW ONE FOR $250,000...
