Want an eye opener? go to


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Posted by 48PW on Monday, March 09, 2009 at 11:36:16 :

In Reply to: Can't sell to upgrade, got to improve the one they own? posted by Chriscase on Monday, March 09, 2009 at 09:42:41 :

Want an eye opener? Go to a site like foreclosure.com and look at the number of foreclousres in your neighborhood.

I thought that my neighborhood was stable, I know my neighbors pretty well and most seem to be level headed. There aren't shiny new cars or boats that have been bought with home equity cashouts or tales of frequent trips to exotic locales.

When I saw the number of preforclosures, bankruptcy proceedings and tax lien placements I was taken aback.

I had my eye on a property that I thought was well priced, but now I am convinced that we have a lot futher to fall before the bottom.

My fear is that in the end even the cash reserves that I have diligently built up over 25 years will not be enough when the inflation component, caused by the out-sized government spending, kicks in.



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