Thursday, June 13, 2013

SELL YOUR HOUSE OR WALK AWAY...?

EVEN IF YOU ARE NOT UNDERWATER ON YOUR HOUSE...YOU MAY NOT BE ABLE TO SELL IT...

IN SOME AREAS THERE IS JUST NO BUYER AT ANY PRICE ...OR PERHAPS ONLY AT A PRICE THAT WOULD BE A GIVE AWAY...

EVEN IF SOMEONE IS NOT UNDERWATER...THE INABILITY TO SELL COULD TRIGGER A WALK AWAY...  MANY PEOPLE WANT TO MOVE FOR RETIREMENT OR JOB REASONS...

AND THEIR SUPPOSED "EQUITY" IS REALLY ONLY THEORETICAL...BUT THEIR TAXES ARE VERY REAL...

A LOT OF  PEOPLE ARE JUST "SELLING" THEIR PROPERTY TO GET OUT FROM UNDER THE PROPERTY TAXES!

THIS IS NOT A PERFECT MARKET SO SOMEONE CAN BE OK IN THEORY .... BUT UP SHIT CREEK IN PRACTICE...

WITH 1/3 OF ALL HOUSE SALES NOW FOR CASH AND DONE BY INVESTORS...THERE CAN NOT BE A LOT OF EXTRA MONEY IN THE PRICE... THESE ARE DISTRESSED SALES BY ANOTHER NAME...

REGIONAL DIFFERENCES ARE HUGE...THE MARKETS WITH THE BIGGEST BUBBLES CRASHED WORST...  BUT THEY ARE ALSO COMING BACK, OR AT LEAST DEMAND IS COMING BACK TO SOME DESIRABLE LOCATIONS...

NET NET...THE US ECONOMY IS IN A SECULAR DEPRESSION...ITS ELITES WITH THEIR CAPITAL HAVE DECAMPED TO ASIA... AND ANY REAL RECOVERY WILL BE LIMITED.