Amplify’d from www.doctorhousingbubble.com
Housing is where the wealth is…or used to be
In the US nearly 7 million homes are either in foreclosure or have missed at least one mortgage payment. Even if we suddenly had no more foreclosures (not happening in 2011) the pipeline is spilling over with homes that will drag prices lower. Since many can still purchase with FHA insured loans with low down payments you are likely to lose all of your down payment in the correction that is coming. In other words, it makes sense to rent simply as a hedge. There is little incentive to buy today.
See this Amp at http://amplify.com/u/bsg32
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