Americans defaulting out of anger, fear or despair
Posted: Wed May 12, 2010 12:56 pmWith unemployment not plummeting any time soon, and foreclosures not going anywhere either (a situation not helped by strategic defaulters), I don't think we'll see the real estate market boomerang upward any time this year.
Even with the federal tax credit and increased real estate sales in January through April, we STILL saw a drop in housing prices.
My advice: if you can afford it, buy investment properties, and keep them for the next couple years.
Best of luck navigating the economy and housing slump,
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Brian