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Property Owners 2009Time to buy or sale? Trend for mortgages and Housing Market, A splash of good news!In today's rapidly changing, complex markets that demand immediate, reflexive accommodation, that old premise that "he who walks away gets to play another day", has never had more relevance. A huge shift is taking place where economic growth is coming from and this recession has made this more evident and necessary than ever. Leader vs. Laggard. 1. A Recession! Lower real estate prices and cheaper mortgages sound great, but devalue houses. How low will they go? 2. Unemployment rising and businesses folding! A shrinking economy results in additional layoffs? Chances of a rebound are dim for 2009. If people can not buy, buyers can not sell. 3. Poor state of the economy, rising prices and unemployment! Lowers demand for housing. Further, many homeowners will be forced to walk away from current over inflated mortgages and rents. Many would be buyers can not afford to take on one of the biggest financial investments of their lives? 4. More stringent terms! Prevents more borrowers from obtaining mortgages? 5. Consumers choosing other options to help make ends meet! Tighter budgets, sharing residence, returning home, and fewer immigrants. For those who recently purchased a new home, especially over the past three years, be prepared. What is negative equity? That is what nearly 1 in 3 Americans are in. The real estate boom and market, along with many other markets, will be forced to bite the bullet for a long while. For those who were fortunate enough to sell consider yourselves on time for the sellers market. Since the most recent announcement of a 2008 recession, home prices have dropped a staggering 21% since 2006. This is just the beginning of the buyer's market. For those who own property, you have a few good options in your favor and they will only get better until the economy takes another turn. A few smart or fortunate investors will thrive, but to survive, most will be forced to reinvest elsewhere and choose other options. In 2009, websites, Still the Best Business in town for the investment |
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