Time to buy property in the USA?

[Gob]

House sales slump in USA

Ok, we have here and at the other place, some reasonably comfortable/affluent American residents. Would this not be a good time to be buying investment properties, say for retirement or holiday homes. I know that during the last slump in house prices in the UK many invested in good property art bargain basement prices and have reaped good rewards fro m it.

In fact I was fortunate enough to buy my cottage during a low price ebb time, and am so glad I did.

Your thoughts ?

[Crackpot]

Hard to say. It's a better market for first time home buyers or investment buyers (for renting) really. "holiday homes" are still up there though some deals are to be had.

[Gob]

This makes sense;

Sales of previously occupied homes in the United States fell 27 percent in July, the weakest showing in 15 years, the National Association of Realtors said Tuesday. It was the largest monthly drop in the four decades that records have been kept.

Potential buyers are hesitating because they think home prices still have further to fall. Potential sellers -- those with the stomach to put their homes on the market at all, anyway -- are reluctant to lower their prices.

http://finance.yahoo.com/news/Low-price ... ?x=0&.v=10

[dales]

The USA is too violent for you, Gob.

[loCAtek]

Your thoughts ?

Hey, my warrant just cleared last month, I don't even wanna know what my credit rating is. Is there something lower than, 'wage slave'?

[Gob]

Warrant? Credit rating?

[loCAtek]

'Warrant for your/my arrest' which makes a loan officer cringe.

'Credit rating', which is a BIG determination if a bank or credit union will loan money to you.... for whatever.




I'm thinking- my next car will have to be paid for in cash.

[dales]

Warrant?

It took 10 years for my arrest record to clear.

I'm now pure as the wind-driven snow.

[loCAtek]

Oh, this is all due to my traffic violations last year; I wasn't ever arrested. I did work furlough but, was unable to pay the fine on time, and until I did, there technically was a warrant out for me.

Ha-ha dales, we believe you

[Gob]

I'm associating with criminals, oh me, oh my!

[loCAtek]

You were expecting anything less from a Latina? Hey, this is just what I've been caught for...