There was a reality convention in Vegas also- I was talking to one of the realitors that attended, and she mentioned very tough environment. I stated 2009 would be the bottom, and she raised an eyebrow and said it might take longer.
But, get this- People overseas are starting to buy properties in the states, especially coastal areas and Flordia, where the worst declines are. You know why? They are getting a 30-80% better price than last year, plus with the tanking dollar, they are getting a 40% premium on the currency exchange. So, eventually, things will bottom out.
Currency may be the place to play? I would liquidate more of my portfolio, but where to put it? I've already pulled a bunch and it is sitting in CDs and money market account, making small interest, but relatively safe.
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