Slump in Sales of Previously Owned Homes Hit All Time Low
April 24th, 2010
A desperate move for others in the housing industry could be an opportunity for you. Last October, the National Association of Realtors released a report that the pending sales of homes that were previously owned homes hit their lowest point since the time the data were published for the first time in 2001. Even Moody’s Investors Services expects that this slump will last until 2009.
So if you have money to invest, why not take this opportunity and buy a vacation home? That is, if you know what just exactly what you are looking for, the place where you want to buy. Also, owning the house for at least five years should be in your plan.
David Hehman, chief executive of EscapeHomes.com says that “There’s a margin of safety in buying a vacation home because building costs should continue to rise”.