Monday, February 16, 2009

William Blake Songs of Innocence

William Blake Songs of InnocenceVincent van Gogh View of Arles with IrisesVincent van Gogh The Old Mill
This one's a bit trickier, since real-estate prices are "sticky" on the downside. Homeowners don't like to admit that the a bad investment.
But here's the thing: Fixed-rate mortgages are already at historic lows, and the government is going to use every tool in its bag to get them lower over the course of the year. So if you find a piece of property you want, if the seller is willing to recognize how far the market has truly fallen, and if you have good credit -- three big ifs -- you can benefit from a once-in-a-lifetime double bonus of low prices value of their pride and joy has fallen by 30%. So they'll put their house on the market at an inflated price and hope some fool will bite.I was at a Vermont ski resort last month and noticed this oddity: Brand-new condominiums were selling at a price considerably below those of second-hand condos of roughly equal size and location. The reason? I assume it's because the resort owners have a better sense of the market's real value than the average person, still desperate to recoup

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