About 9 months ago I started looking into buying a house and some land. The Metallic Surfer (former guest blogger here) told me via email, and through Abject Disappointment, that it was a really bad time to do that He said to wait it out for a while, like maybe 6 months and see how things were then.
Thankfully I’ve procrastinated on following through with my initial plan. The housing prices are coming down, sellers are having a hard time getting rid of their houses, and prices are constantly dropping
I wish I could say that I was smart enough to listen to him, but I wasn’t. I just got lucky.
But, boy, damned if he wasn’t right.
Spot on about ammo prices going up too!
Oh yeah, remember their B-days? cough… cough…
Oh hush up. I was just grabbing the phone to call you.
Haven’t seen prices drop in my area yet. They’ve pretty much just stagnated due to the oversupply. Our area didn’t get so overpriced compared to other places though. Some parts of the rest of the country are and will continue to have serious price adjustments.
I’ll probably be selling in another 3-5 years and moving a fair distance. Hopefully things aren’t on the low point of the curve by then … but in some aspects you just need to live life on your own timetable and it’s hard to wrap that constantly around an uncertain market. As it is, if I sold today I’d get around $10k overall back. Not all that great, but better than the zero I used to get back from rent.