I heard an interesting stat the other day from a Real Estate Veteran of over 40 years...This guy has seen it all, now nothing like our current market but he's been through the worst before. He said to me "Do you know that as a country we need to be building 2,000,000 homes a year to keep up with population, divorce and college grads...etc? Right now we are only building 1,000,000 homes a year. We will have a housing shortage...it might be 5-10 years down the road, but we will see it and a shortage will drive prices right back up. I thought this was very interesting...if that's the case and I believe it to be true, then this "bail-out/rescue" plan will work and the government will be able to sell the homes they buy for a profit. More importantly any home YOU buy in todays market is a great investment...I don't know, I'm just a home seller in Michigan...but I remain positive in a negative market.
I welcome your comments...