Fantasy Real Estate

 

Feeling depressed by all the tough economic news out there?  Here’s your morning chuckle- real estate will come "roaring back" in 2009:  [Thanks L!]


FAIR OAKS, CA – The nation’s foreclosure hemorrhage has finally slowed and 2009 should see a significant decline in foreclosures as buyers return, pushing home prices up and fueling a real estate recovery, according to the 2009 Outlook from ForeclosureS.com.

“Recovery is underway. Affordable is back in the housing market,” says Alexis McGee, real estate expert, educator, and president of ForeclosureS.com. “In 2009, housing will not only recover, but we’ll see buyers leap into this market in droves, depleting our housing oversupply, and actually put higher price pressures on the market.”

“With 4.5% fixed mortgage rates, housing prices lower than they were ‘pre-housing bubble’, commodity prices lower, tax credits available for homebuyers, and the government eager to stimulate our economy, for the first time in years I can see prices rising again in 2009” adds McGee. “This is a great time to buy properties for investors — to buy properties at wholesale prices below today’s already low prices — rent them out for positive cash flow and then sell them for big profits in late 2009 once price appreciation kicks in.“

I’m glad I wasn’t drinking my orange juice when I read this one.  David Lereah would be proud.

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2 Comments for this entry

  1. John M. says:
    January 9, 2009 at 8:27 AM

    twist (OT) -

    Your (or L’s?) sidebar link yielded a very important point. This is another example of the financial and economic obfuscation that was a lasting legacy of the pressures brought on by the Vietnam War. One of the things we’re seeing now is the tearing back of the veils of fraudulent official statistics that were so much a part of the blinding of America to the impending disaster.

    “Great Depression jobs parallel may not be far flung”, by Pedro Nicolaci da Costa, Reuters, January 9, 2009.

    Under President Lyndon Johnson, the government decided individuals who had stopped looking for work for more than a year were no longer part of the labor force. This dramatically decreased the jobless rate reported by the government.

    What’s next, a return to Gross National Product?

  2. daddymunster1 says:
    January 9, 2009 at 9:12 AM

    Twist…

    Unfortunately, I was drinking my orange juice when I read the statement. What a mess!

Comments are now closed.