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For all of you boys tired of winter, its time to head south and buy up some USA real estate.


http://www.financialpost.com/news/f...g+real+estate+realtor/4418061/story.html

That's funny. All the real estate agents said that "now" is the time to buy a house.......5 years ago.

Well the Real Estate market has a long way to go before it settles out. Buy a house because you want one, not because some one else says its a good Idea. And as far as Real Estate agents go, they were hand in hand with the lying that when on in the lending to people had no business getting loans in the first place. I remember when the exchange was 50 % to the good for the USD and you Canadians took it in the shorts. In the early 1970's it was the same 3 to 5 cents on the dollar.

You mean all the people who should have never bought a house to begin with? Who then went on to refinance it every 6 months to buy bass boats, motorcycles, and SUV's only to foreclose a few years later?

But the banks didn't realize that people would lie about their income...

I can only speak to my region, the PNW, but it's my opinion that we've got another 10% of pain to suffer... which will both cause more, and run concurrant with, foreclosures and shorts, which serve to keep the waters muddied and prices suppressed.

This IS arguably a "decent" time for a strong (cash, or so much money down that the lenders hike their skirts at you) buyer to scoop a deal, low interest rates and highly motivated sellers and all... but it takes balls to buy a lengthily-amortized secured asset in a declining market for said asset...

Just IMHO.

If you NEED a house they are cheap as rents have not crashed anywhere near as much. It is also a chance to make the move that will get you in a place that is more than one gas tank away from a city, has some land to grow food on, a basement to fortify, a place to store survival supplies.

If you need to ask, "Why", rent the movie "The Road", it may become clear.

If you are a Sheep, the Wolves will get you. If you are a Sheepdog, you MIGHT survive.

My wife and I purchased a 3000 sq ft house with full basement on a corner lot, zoned commercial for $3000.00. When finished, we will have about $25000.00 total in it. We have purchased several properties (6) and have less than $16,000 invested.

Well, I dunno about all THAT <grin>, but since I live out in the woods in a wood-heated cabin and grow chitloads of food, I guess on some level I agree.

If it comes to that, I guess I can put up wood with a bow saw, but I recon I will be gone before then.

Randy