Allisonfaye
Brilliant_Rock
- Joined
- Oct 18, 2004
- Messages
- 1,456
Sometimes I think about all the books and articles that will be written on the economics of this time.Date: 3/11/2009 2:34:34 PM
Author: Beacon
Interesting article.
The last guy, the one in Dallas brings up an interesting point. He mentions that a house went to foreclosure near him, sold for a low price, so he figures he is underwater. He probably is.
But is it wise to ''mark to market'' your home at distress sale comps? This is forced selling and there are few buyers. Of course prices are low!
So is it good to just ''sell at the bottom'' by walking away? Probably not.
I can see the future articles talking about Mr. Average guy who made himself a millionaire with things like, ''hey can you believe I bought this thing for 85K in 2009?''
We all know those articles are out there waiting to be written in our future!