Date registered: Feb 2007
Location: Florida, USA
Mentioned: 0 Post(s)
Quoted: 62 Post(s)
We have not seen a wave of commercial real estate foreclosures yet, but it is coming. And a second large wave of residential real estate foreclosures as the adjustable rate mortgages reset to much higher rates for more and more people. We are in for a rough ride. Things are about to get worse, much worse.
We still have long ways to go to bring prices of houses here in Florida to pre- 2005 levels. I did not hear anybody complaining when prices tripled virtually overnight. Now it is time to get back into reality. After 8 years of having Fredo Corleone in charge, this was to be expected.
Last edited by p100; 02-07-2009 at 08:44 PM.