In 2006 skeptics say that the real estate market will turn around in 2007. Well, in 2007 things got worse, and in 2008 much worse. Right now we have a record decline in real estate prices.
If you listen back then to skeptics you lost maybe half of your money. Smart people sold in 2005, not so smart in 2006, dummies in 2007, and some fools still claim that things are going to turn around.
Well, they are not going to turn around, no they are not - companies are firing at a record rate. Those unemployable workers will face foreclosure and even more houses are dumped on a saturated market. As houses drop deep in price and people stop paying their mortagages more banks will fail - meaning less loans. Needless to say, none of the jobless joes will buy a home.
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