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Reply #6: The bottom is going to fall out of the real estate market [View All]

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truthseeker1 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-27-04 04:52 PM
Response to Reply #5
6. The bottom is going to fall out of the real estate market
so it's a good idea to sell if you can - otherwise, dig in and ride it out. We're not planning to be in our current home/location for more than a few more years, so it makes sense for us to get out now, otherwise, we could lose our shirts if we wait to sell. But if we planned to be here indefinitely (or for the next 20 years) we would stay put.

We're also trying to and consume less and save as much money as we can. Pay off credit cards if you can - interest rates are going to shoot way up. Expect lots of foreclosures and bankruptcies in the next couple of years.
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