either not the extra money to “invest” into a second home, or think that it would be foolish to do so as the prices stay hung up into the stratosphere. The result as been, as realtors put it so aptly, that “prices are holding, but nothing is selling!” In plain language that means simply that the emperor has no clothes and that no one as yet grasped the momentous collapse that's going to seize that superfluous market. My prediction is that the downfall is imminent. We're perhaps still between eight month to a year away from the calamity, but it's coming and we will see something astounding as prices are likely to collapse like we've never seen it before; I anticipate a fall even more drastic than what happened around 1985. The table sums up my prediction. Let's review it at the end of 2010!
Sunday, June 28, 2009
Resort real estate
According to the market, we have not seen the bottom of the “normal” real estate yet, that is sales and purchases of homes everyone needs. What I'd like to discuss today though, isn't that kind of real estate or even commercial properties; I want to discuss the mysterious segment of “resort real estate,” you see that one that not really needed by anyone, that “fluff” sector largely made up of second-homes and that has inflated like a giant balloon over the past twenty years... Today that market appears almost totally frozen as investors have 
either not the extra money to “invest” into a second home, or think that it would be foolish to do so as the prices stay hung up into the stratosphere. The result as been, as realtors put it so aptly, that “prices are holding, but nothing is selling!” In plain language that means simply that the emperor has no clothes and that no one as yet grasped the momentous collapse that's going to seize that superfluous market. My prediction is that the downfall is imminent. We're perhaps still between eight month to a year away from the calamity, but it's coming and we will see something astounding as prices are likely to collapse like we've never seen it before; I anticipate a fall even more drastic than what happened around 1985. The table sums up my prediction. Let's review it at the end of 2010!
either not the extra money to “invest” into a second home, or think that it would be foolish to do so as the prices stay hung up into the stratosphere. The result as been, as realtors put it so aptly, that “prices are holding, but nothing is selling!” In plain language that means simply that the emperor has no clothes and that no one as yet grasped the momentous collapse that's going to seize that superfluous market. My prediction is that the downfall is imminent. We're perhaps still between eight month to a year away from the calamity, but it's coming and we will see something astounding as prices are likely to collapse like we've never seen it before; I anticipate a fall even more drastic than what happened around 1985. The table sums up my prediction. Let's review it at the end of 2010!
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