That’s Why It’s Called A “Cycle”…
By Mitch Berg
…rather than a “straight line“:
Three years ago the choices for entry-level buyers like Sarah Kiefer were so meager that with a budget of just $120,000 she all but gave up on buying a house.
The down market revived that dream.
This week, Kiefer will close on a Colonial-style fixer-upper in north Minneapolis with 1,800 square feet and a fireplace for $75,000.
Which, eventually and more or less inevitably, brings values (aka prices) back up again.
Just keep that in mind when you read the big-money-backed gloom and doom industry’s broken record proclamations of doom (which will supposedly stop the moment Barack Obama hypothetically gets inaugurated…).
May 19th, 2008 at 11:27 am
Haha! So you think Obama campaign’s responsible for making up the bad economic news? Heck, they’re the only ones hiring!
May 19th, 2008 at 1:14 pm
That is not what was said, angryclown. Read it again. :-/