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MRWOOHOO · 05-13-2008

And now that the units are being completed the "owners" that mortgaged their second home in the states to purchase their new $250000 condo are trying to sell them and they are finding it is taking easily 6 months. Now is probably not the time to buy, they will get cheaper and some people will loose their shirts. There is a positive side, renting your condo can produce considerable income. Don't kid yourself folks, there is a credit crunch going on that is world-wide. Jumping into speculative real estate with the intention of "flipping" is risky.

05-13-2008	#2 (permalink)
MRWOOHOO Moderator Join Date: Sep 2007 Posts: 875 Rep Power: 2	And now that the units are being completed the "owners" that mortgaged their second home in the states to purchase their new $250000 condo are trying to sell them and they are finding it is taking easily 6 months. Now is probably not the time to buy, they will get cheaper and some people will loose their shirts. There is a positive side, renting your condo can produce considerable income. Don't kid yourself folks, there is a credit crunch going on that is world-wide. Jumping into speculative real estate with the intention of "flipping" is risky. Last edited by MRWOOHOO; 05-13-2008 at 09:55 AM. Reason: My Post