Real Estate – Is it Time to Buy Yet?
Depending on where you are in America right now, real estate might look like a very tempting investment. Across the board, housing prices have dropped by 50% or more, and interest rates have never been lower in our lifetime. What could possibly be bad about taking some money and putting it back in the housing market right now?
Unfortunately, quite a few things can be bad. Because in this market, in this economy, the money you’ll be spending is only part of the equation. The other, more difficult part is how you are going to get that money back.
First of all, just because the price of a property has dropped by half doesn’t mean that property is undervalued, and that all that equity is going to come back sometime in the near future. Remember those real estate prices that kept climbing and climbing? We just got out …
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