Greenspan Warns Of Real Estate Crash
 

http://business.timesonline.co.uk/ar...752866,00.html

Like who was it on this board who predicted this months ago?

Who didn't predict this months ago?

never had those problems here in the midwest, I never understood the draw of either of the coasts were housing is absolutely ridiculous. I have no fears whatsoever in this so called bubble :)

and you will never get to experience a beach/ocean atmosphere ever. :2 cents:

The reason for the high real estate in the other areas is simple:

Easy access to whores, drugs, gambling and night life.

The big restaurants follow the crowds. It's rare a restaurant draws the crowds.

Earth has been pimped yo.

ok when that thrill is over whats left, swarms of non english speaking mexicans overwhelming your neighborhoods? YAYYYYYYYYYY :1orglaugh

Im 20 minutes from the 3rd largest city in the country, so that is irrelevant.

We missed that. How is it irrelevant?

It will never happen in Vancouver.The prices will always be high.Any normal Joe could afford a home 20 years ago,now it's a damn struggle or impossible without 2 incomes.

wait all those people who did those variable rate mortgages and interest only loans. Who only thought of the payment not the future. I think we will see the greatest foreclosure rate in this country once the rates go up.

There you go buddy, right on the fucking nose.

When them foreclosures hit, I'm gonna be Snidely Whiplash like a mo'fo'.

Interest only loans only work if you're in the kind of business that your income increases by default like PORN.

Banks will be BEGGING for new home buyers and I'll bet you'll be able to get a home for no money the fuck down like nothin'.

It will crash, and I'll think back to all the real estate investors here that were too busy riding their wave of euphoria to open their eyes to a little common sense. I won't feel sorry for them a bit, in fact I might snicker despite myself.

And we can go in and buy houses for cheap and rent them back to all the people who didn't plan well :)

Good Idea :thumbsup

Been planning it for about a year :thumbsup It's why I'm keeping all my assets (as tiny as they are....) as fluid as possible right now. :winkwink:

good timing, me and the boyfriend are lookin to buy a house lol

Yeah, interest rates wills suck :Oh crap

Yeahhh boyeeeee! Keep that loot stashed. I'm rushing to start my own toon affiliate program so's I can bring in some extra loot. I don't see a crash coming until after Christmas anyway.

2006 will be the year of tears.

Cash is king baby. I am waiting to scoop up some sweet deals.

hopefully we see lots of places for sale when people can't afford them. good buyers market instead of sellers market like it is now

I sure as hell hope not.

I've invested alot of money out there in Real Estate :Oh crap

It won't, Vancouver is like the San Francisco of the North. So much density, nothing could deter demand up there lol. Rates could be at 12% and people would still be lining up to purchase homes and condos/apartments there.

i was going to buy a million dollar home but changed my mind after looking around.
some of the property i've been looking at here in miami don't even look like million dollar homes.

i'll wait until the crash and maybe get a 5 million dollar home for 1.

Home prices will go up.

Sheeeit. If you've a million bucks to spend on real estate I would shop elsewhere. Why buy one home for 1 milion that in any other state would be worth $200k when you can buy 5 homes for $200k that will grow in value in the long term.

If the house doesn't come with FREE pussy it's overpriced.

And also dont forget we are heading to RECESSION

Lot of the property I was looking at 3 yrs ago has doubled in price,soI think I will wait till after the shit hits the fan to get into it. Its time to sell if you are in for the short term, you maybee still able to cash out :2 cents:

:thumbsup :thumbsup

This could turn out to be a self-fulfilling prophecy.

let's hope it's only a recession...

also hope that it's merely a correction in the few most overrated spots like where you are, santa barbara, etc and that the majority of the country just levels flat for the next 5-10 years...

if it's a crash we're all fuct :/


.

Avoid the real estate crash and cash out ... and shift over to investing in domain names ... some real estate investors have already made the jump; have some transactions pending now ... and there's still much more room for domains to go up in value, way up!

Ron