Quote:
Originally Posted by $5 submissions
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.
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Yea man that's why I don't want to buy yet. I've been waiting over a year now and I'm damn sure getting tired of renting. However even though there are some good deals out there I don't think we have hit bottom yet.