Thursday, February 14, 2008

This guy is predicting 70pc falls...!

Asset Deflation 13: Sell Your Real Estate Immediately! (Safe Haven)

"And it's only a matter of time before that equity squeeze wreaks havoc across the economic board and takes down the stock market and commodities, too. Picture a five year old trying to beat back an elephant with a Wiffle bat -- eventually that will be the metaphor for a declining global economy trying to chase from the living room the growing, immovable force that is asset deflation.

Meanwhile, sell your real estate now. Sell it now. Now. Get rid of it. All of it. Even if you can't get 2005 prices (and you won't). Get what you can now, set the money safely aside and buy the property back (or one like it) several years from now, for a lot less money...

...I now expect every property category to become significantly affected -- houses, condos, fourplexes, apartment buildings and complexes, shopping centers, office buildings, industrial complexes, lots, land -- you name it. The evidence (and a growing and overwhelmingly negative real estate buying psychology) has me convinced that no property type will be spared..."


Panos Konstantinidis said...

70% fall? I think he's exaggerating but you never know.

The Apprentice said...

"Οι τιμές των κατοικιών θα συνεχίσουν να πέφτουν", ανέφερε. "Οταν σπάζει μια φούσκα, επιστρέφει κανείς σε έναν αρχέγονο φόβο".

Τάδε έφη... Γκρίσπαν