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In SC, the Grand STrand area, available condos on the market went from 10,000....up to 12,000. That is a 3-5 year supply! Now the kicker......a person who works the county (Horry) said there are 6000 more condos in forclosure or starting forclosure....that is staggering. Now an even bigger kicker....the county to avoid this mess again has institued some stipulations on purchasing these distressed assests. To purchase one of these condos you must have a beacon score of 725 and 20% down. Wow. If this is true this inventory might never get worked off. IF you add in the construction of new condos, townhouses, sfh's...we're F'd. The sky is falling! Get to cash!
Feb 27 10:24 am
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All Comments by Big Ben »Sirius XM: Looking Ahead to Fourth Quarter Results [View article]
Just heard another good one...if the markets turns and we return 7%/year it will 2020 before we get back to prior levels.
I also filled up my F250 with desiel yesterday...63$ to fill...1.89/ gallon...cheap.....rea... global demand for oil is still sliding. The world is flat and when things are going up everyone is partying, now that we are seeing the slide, oh my it is going to be a big one.