Quote:
Originally Posted by Red
Maybe they bought in 2008 for 500k? Selling sets them back 100k immediately. Renting out with negative cash flow eases the pain and there is a chance of a turnaround.
There are tons of people in that situation. Got caught with their pants down when realized that RE doesn't always go up.
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Are there tons? How many places went down 20% since 2008 and haven't come back at all? I really have no idea as I don't follow real estate that closely. Honestly I just like where I live and things don't change fast enough for me to have any real concerns. That being said, everyone tells me that we're a year and a half behind the US so I've been reading this thread waiting for about 3 years for our market to crater...