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Duude, you are correct.
Oct 27 12:22 pm
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All Comments by ChickenLips »Advice for Renters: Wait Until 2010 to Buy [View article]
Demand is there, but the ability to finance a purchase is no longer there. I want to upgrade like everybody else, but I probably don't qualify for a new mortgage like everybody else! I don't think we need to be asking a real estate broker about investing in real estate again, we need to be asking the finance reps. Real estate will not turn around until the financing becomes readily available again to eat up this inventory.
But if all the finance people are losing their jobs, that to me is a very STRONG sign that real estate isn't coming back anytime soon.
Rental properties will always be in demand, we all need a roof over our heads, right?