Tough Times Ahead for R/E Gamblers!
In this post from RisMedia, they talk about the potential fall out from an r/e bust. A possible 30% reduction over 5-7 in r/e prices is mentioned. Certain zip codes in Las Vegas have almost a 50% flipper rate. That is quite remarkable. The excesses of the r/e cycle will have to be worked off, and we as a country are in a very bad spot. We have no savings and huge debt, as a country and as individuals. When the next recession comes, I believe it will particularly nasty, as we don't have any resources to get through it. So, we will probably have to go further into debt. It just boggles my mind that countries continue to lend us vast sums of money. How can it end well?