Quote:
Originally Posted by [db]
What part of depression don't you people understand? Everything is going to very seriously crash.
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If it hasn't already. The only thing unclear is where the "bottom" is.
When I lived in the US, one of our neighbors bought their house during the last real estate bust in Sourthern California. They bought their home in 1992. It took almost 10 years for it to climb back to the price they originally bought at. 10 years "under water" mortgage. Very sobering story to keep in mind in today's real estate market. Apparently, AZ and NV markets are facing the same situation.