2007 marked by historic housing slump
2007 will be remembered for the worst housing slump in 16 years - in the US. Meanwhile, here in Victoria, every member of my family tells me prices are going higher. Several members of my family bought homes. Others asked why I resisted, or pointed out my house was too small, so what if it costs more for the comforts we need now?
Give up, throw in the towel and buy, there's no point holding out any longer!
Surely when someone like me hears something like that, the end must be nigh. My timing is invariably bad. If I cave and buy now, you can bet at the end of 2008 I will be reading about how that was the wrong time to buy.
This Reuters video goes through the fallout of the past year, for those who ignored their gut feelings and common sense, and jumped in with their boots on.
It encourages me to be just a little bit cautious.
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