>Real Estate: Can things get any worse? All the bankruptcy should be off the book by year end correct?
Yes, it can get worse. Now the Baby Boom is at the age where they sell off their single family homes in areas with good schools and move to retirement housing and retirement communities that are child free, have lower property taxes (no school bonds because no children are allowed), and reserved only for those 55 and older.
Previous predictions have been that 2012-2014 would be the tipping point when this would happen, driving down real estate into a tailspin, but with the bad economy this may get pushed out a few years further as potential retirees attempt a few more years in the workforce before cashing out.
Overall, buying realestate in this decline is like catching a falling knife.
Yes, it can get worse. Now the Baby Boom is at the age where they sell off their single family homes in areas with good schools and move to retirement housing and retirement communities that are child free, have lower property taxes (no school bonds because no children are allowed), and reserved only for those 55 and older.
Previous predictions have been that 2012-2014 would be the tipping point when this would happen, driving down real estate into a tailspin, but with the bad economy this may get pushed out a few years further as potential retirees attempt a few more years in the workforce before cashing out.
Overall, buying realestate in this decline is like catching a falling knife.
"Alpha children wear grey. They work much harder than we do, because they're so frightfully clever. I'm awfully glad I'm a Beta, because I don't work so hard. And then we are much better than the Gammas and Deltas. Gammas are stupid. They all wear green, and Delta children wear khaki. Oh no, I don't want to play with Delta children. And Epsilons are still worse. They're too stupid to be able to read or write. Besides they wear black, which is such a beastly color. I'm so glad I'm a Beta."
--Aldous Huxley, Brave New World