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Why 1 hot U.S. market is seeing ‘breathtaking’ real estate collapse
I was extremely fortunate to enter the housing market for the first time at the bottom of a real estate collapse.
With prices plummeting and the Great Recession taking hold, I managed to scoop up a brand-new townhouse for a relatively cheap price.
About two years later, I sold that place for a $50,000 gain and grabbed a four-bedroom home in a beautiful neighborhood for a little over $400,000.
Prior to the recession, my wife and I despaired that we’d never be able to find somewhere we liked at a price that didn’t make us want to puke.
And truth be told, if we were entering the market now, we’d never be able to afford our current home (now valued at close to $1 million).
But for those clamoring to enter the homeownership space, relief may be on the way.
Markets are cyclical, and real estate is no exception.
Could you soon have the opportunity to buy low and sell high the way I did in 2008?
There are more and more signs pointing in that direction.
In some formerly hot, hot U.S. markets, housing demand isn’t just weak.
It’s collapsing.
