Quote:
Originally Posted by Amputate Your Head
That shit is painful. I've lost everything I gained on that first property. My 2nd Maui property was, at one point, worth $2.1 mil.
Today it's more like $1.4 mil.  |
Damn, that is a rough drop.
I wonder how long it will take for property values to return, if they ever do. A person could make the argument that most homes were overpriced. Million dollar plus homes are in a different league, bu the average home for the average person was even over priced. I had seen where some economist were saying that right now is the first time in the history of this country that the average wage earner can't afford to buy the average home. However, they still do, they just go further into debt to do it and use credit for everything else that people used to use cash for.