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The Cheapest Real Estate in the World
"All of a sudden, it became a monster…"
I was on the phone with my friend Andrew. Andrew is 25 years old. He’s been trying to get a business off the ground. Recently, his phones started ringing… and they’re still ringing nonstop…
"A guy from Vegas called. He bought 35 houses with cash. Then a guy from Toronto called. He bought eight houses and a 186-unit apartment community. We just had another guy in from Toronto looking to buy 50 rental properties."
Someone else was speaking on a phone a few yards away. More phones rang in the background.
"We’re getting calls from all…
29Apr2009 | Stansberry and Associates | 0 comments | ContinuedAre We Nearing a Housing Market Bottom?
It’s been a long, downslide for homeowners or anyone trying to buy a house.
But a Moody’s Economy.com report, “Housing in Crisis: When Will Metro Markets Recover?â€, says we could be nearing the end.
Specifically, the study estimates that:Â
- House prices will stabilize by the end of this year.
- The national Case-Shiller house price index will decline by another 11% from the fourth quarter of last year for a total peak-to-trough decline of 36%.
- Before the downturn ends, house prices will have declined by double-digits in nearly 62% of the nation’s 381 metro areas. House price declines will exceed 30% in about 10% of U.S.…
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