PretzelWarrior
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Fri Nov-05-04 02:54 PM
Response to Reply #16 |
| 19. if it happens...it tends to happen locally in certain markets |
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like if a huge mfg company suddenly deserts a town and people have to sell in droves and there are foreclosures...
a general stall in housing across the country could mean only one thing...HUGE INTEREST RATES...which means the seller trying to unload would have to do so at a price below what they would recover any equity on and the buyer will get a "steal" but have to pay outrageous rates.
that is what happened in early 80's. guess who wins in that situation? you guessed it. investment class who can waltz in and pay cash on homes and property at dramatically reduced rates.
it is coming. it won't be pretty.
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