The WSJ sounds an ominous bell on recent…
Posted: April 2nd, 2008 under News.
Tags: economy, Realogy
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Comment from Richard Dale-Mesaros
Time April 2, 2008 at 8:19 pm
Boy, I’m sure Realogy won’t be alone as this wide-reaching ripple effect makes its presence felt in more and more segments of our industry.
Check out the April issue of Forbes; page 60 has an article entitled “Fire Sale”, discussing the fact that the banks are finally starting to take significant discounts, either in short sales before the auction or with their REO’s after the auction. I’m surprised this hadn’t happened earlier but it certainly appears that we’ve reached the tipping point. Great for us investors, bad for house values and bad for the banks.
Burn your TV…. go find a deal,
Richard
Chief Deal Weaver
http://www.BlackWidowNetwork.com