Hunting U.S. house bargains

Discussion in 'Politics, Religion, Social Issues' started by Stella, Nov 10, 2007.

  1. Stella macrumors 604

    Stella

    Joined:
    Apr 21, 2003
    Location:
    Canada
  2. Desertrat macrumors newbie

    Joined:
    Jul 4, 2003
    Location:
    Terlingua, Texas
    #2
    Yeah, and a guy from Japan once bought Pebble Beach and Sumdood bought Radio City Music Hall.

    They both sold for huge losses.

    the Loonie is most likely going to keep on going up, but the historical average for US housing slumps is four years from peak to bottom. The peak was in mid-2005.

    Four years may well be optimistic, this time around. There are some two million foreclosures expected over the coming two years, further depressing prices into 2010 and possibly beyond.

    'Rat
     
  3. Ugg macrumors 68000

    Ugg

    Joined:
    Apr 7, 2003
    Location:
    Penryn
    #3
    There's a big difference between investment property purchases and vacation or retirement home purchases.

    Since only BC has a temperate climate and Canada lacks sunny beaches, many Canadians buy homes in the South. The difference now is that they can buy dirt cheap.

    It's good for the US economy as a whole, as it brings back some of those petro dollars that we send north!

    Large swaths of Florida are merely investments for Canadians, South Americans, Euros, etc. It might be a great place to vacation but I'd hate to live there.
     
  4. Desertrat macrumors newbie

    Joined:
    Jul 4, 2003
    Location:
    Terlingua, Texas
    #4
    The deal, Ugg, is that for all that the prices are good now, there are very high odds that they'll be even better in a year or two. And, FWIW, there are the beginnings of a slide in investment properties.

    This thread jogged a memory of visiting with some Canadians in a club in the Caicos. "The U.S. is a wonderful place to shop, but I'd certainly hate to live there." :) A snowbird couple from Canada is due in here, come Thanksgiving. Great folks...

    'Rat
     

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