OT-Gnulnx.
Ahhh...and there's the first, most common misconception and why now/soon is the time to buy.
Yes, interest rates are definitely going up with inflation fears and the sub-prime/foreclosure fall out. However, I can still get a 30 year fixed for a prime borrower in the sub-6% range. Besides, believe it or not, you can still put 5% down on an investment property that breaks even cash flow wise in a market growing at 25-30% a year, right now today...you just have to know where to find it. Not to mention take a 50% tax write off on that purchase in some areas of the country if you are a Real Estate professional, or buy in a precon development with "built-in appreciation" and 2 years no payments.
Trust me, RE investment folks can still get the job done and make it a very attractive investment in any market. BUT, you don't always get to buy at or near the bottom like right now (like 65-80% of appraised values from 2006 on properties that aren't distressed etc). Nope, most people will wait until Katie Couric is talking about the Fed cutting rates as the economy slows and how the housing market is on the "rebound" to buy. Of course by then, the real money has already been made 2 years before.
But what do I know. I'm short, fat, and still work for a living. I also believe that there is a champagne of beers. ;)
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