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SVTPerformance's Chain of Restaurants
Road Side Pub
Thoughts on Real Estate- bubble burst or not?
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<blockquote data-quote="Blkkbgt" data-source="post: 16705602" data-attributes="member: 117234"><p>If you sell and wait on another 2008 style crash you're going to in a worse situation 2-3 years down the line IMOP.</p><p></p><p>Taking out all the economic stuff that others have posted I don't seen another crash happening for one major reason that I am seeing in my area right now.</p><p></p><p>People are paying for houses in cash! My wife and I just lost out on a house that literally checked every box because of a cash offer. We have also received 2 letters from people wanting to buy our house for cash with one willing to waive inspections and 3 month rent back.</p><p></p><p>Our house is estimated at about 550k right now. The house we lost out on went for 600k, again cash!</p><p></p><p>What I am saying is there is no mortgage for people to default on if the economy tanks.</p><p></p><p>Sure house values would dip if the economy tanks but I doubt we'll ever see rock bottom prices again.</p><p></p><p>Again this all just my opinion as I am no economist nor due I fully understand the housing market or its trends. I am simply looking at it from what I believe to be a logical point of view.</p></blockquote><p></p>
[QUOTE="Blkkbgt, post: 16705602, member: 117234"] If you sell and wait on another 2008 style crash you're going to in a worse situation 2-3 years down the line IMOP. Taking out all the economic stuff that others have posted I don't seen another crash happening for one major reason that I am seeing in my area right now. People are paying for houses in cash! My wife and I just lost out on a house that literally checked every box because of a cash offer. We have also received 2 letters from people wanting to buy our house for cash with one willing to waive inspections and 3 month rent back. Our house is estimated at about 550k right now. The house we lost out on went for 600k, again cash! What I am saying is there is no mortgage for people to default on if the economy tanks. Sure house values would dip if the economy tanks but I doubt we'll ever see rock bottom prices again. Again this all just my opinion as I am no economist nor due I fully understand the housing market or its trends. I am simply looking at it from what I believe to be a logical point of view. [/QUOTE]
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Road Side Pub
Thoughts on Real Estate- bubble burst or not?
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