Updated over 16 years ago on . Most recent reply
Once in a Lifetime Opportunity - NOT!
How many times have we seen posters claim that NOW is a once-in-a-lifetime opportunity to buy property? Well...NOT SO FAST. Here's an excellent article that discusses why real estate prices are headed lower:
http://www.zerohedge.com/article/next-leg-housing-crisis-five-simple-charts
While this article presents 5 very good reasons that real estate prices are going down, it omits the BIGGEST REASON, which is that the federal government is INSOLVENT! Medicare is broke. Social Security is putting out more in benefits in 2010 than it takes in - YEARS AHEAD OF PREDICTIONS! The government is printing fake money as if there is no tomorrow. Fannie and Freddie have a blank check to cover all their losses, etc, etc, etc. The big banks are only solvent because the government is transferring money from the middle class to the big banks. The FED is buying 80% of US debt because the rest of the world doesn't want it. In other words, the US economy is going to collapse! That's the main reason that property prices will go lower - MUCH LOWER!