Real Estate Today - Opportunity or Despair!
By Althea D. Taylor
(Charles M. Taylor Realty )
We are living in historical times involving the real estate industry and our economy! I remember the meltdown of the 80's in the USA. For some it was a time of despair. Homes were going into foreclosure in record numbers. Interest rates skyrocketed at times above 20%! Slums were being formed from foreclosed homes that sometimes stayed vacant for more than a year. The government had such a large inventory of home that had to be packaged to dispose of them. Sounds familiar? With the exception of high interest we are repeating the 80's. We are actually going back to the 80's in such a way of financing homes through gov't loans. It is such a shame to have to readjust in a backwards way after so much progression. The direction of the economy is spiralling backwards (IMO). This is...