Patience - The Downpayment On Your Dream Home

I want to extend my deepest empathies to anyone waiting to buy a home. They are simply priced WAY too high still. Unfortunately, the majority of Americans are willing to spend the super-majority of their income (and then some) on shelter. Those of us prudent with our cash and realistic with our career forecasts simply can't buy into the desirable neighborhoods. The fact remains, unless you are willing to "pay up" and join the maxed out debt slaves, your dream home is unavailable.

The answer is, of course, to lower your expectations. As much as I'd love to live in my dream home, I love my MONEY in the bank a whole lot more. I also love to sleep at night worry-free.

Here's some evidence, that even in this ravaged housing market, prices have a LONG way to drop.





About 2,000 people attended the auction. Registration was free, although each bidder was required to bring a cashier's check for $5,000. (link)

Are you kidding me? Two thousand people at a Boston-area foreclosure auction? I guess those Morons who aren't already banged up from real estate investing are just itching for this fashionable dent in their net worth. Sort of like Bank of America!



It won't be the optimal time to buy real estate until foreclosure auctions are as empty as Cindy Sheehan book signings.

Hang in there. If you've waited this long, you can hold out some more. The steepest drops are not behind us.