19 July 2008
Does this look like the 80’s Real Estate debacle in the early stages?
Posted by admin under: Uncategorized .
Seems like finance markets are in a bit of a state of free fall. Qualified prospects are having a hard time getting loans that were easy just three months ago. Does it matter if your home is well priced, if the buyer cannot get a loan to buy it?
Sort of like whether it matters what gas costs if we actually run out? I surely do not know and would doubt anyone who claims to know any different. All I do know is that now might be a good time to be particularly cautious. Make sure you are buying at less than replacement value, if possible. Opportunity is everywhere, just make sure you are being careful.
Even though we are in Austin, Texas which has, so far, seemed to have avoided the worst of the national downturn, why does that phrase “no man is an island to himself” keep wafting through my head?
Food for thought,
George Sears McGee
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