The home buying stimulus money is over. Home sales are down. Employment is dismal. There is still a demand for homes and land, but not at the prices they were bringing 3 years ago. As hard as it is, things are down from a 1/2 to 1/3 of the top prices of 2008 or so. For owners who don't have a mortgage that may be fine. For rest of us if we want to stop paying interest on a currently no appreciating asset, we need to face the music and sell the property for what it will bring. Not what we hope it will bring.
This is a time for grownups to make grown up decisions about their assets (especially homes and land).
Tuesday, July 27, 2010
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