Who will win, the buyers or the sellers?

There’s a townhome down the street from me that has been for sale for quite a while. The “for sale” sign has been out front, with a little mailbox full of flyers for almost an entire year. I pick up a flyer periodically, look at the price and say “How can this townhouse be worth $70,000 more than my duplex?”, and put it back in the mailbox. The curious thing is that they’ve only lowered the price by about $10,000 over the past year…

Flipping Condos – Are all of the speculators in trouble?

There are quite a few brand new shiny condo developments in my neighborhood. All over town, actually. They’ve gone up in good neighborhoods and bad neighborhoods. They’ve gone up in residential neighborhoods and downtown areas. I’ve seen flyers for condos that cost easily three or four times as much as a an average single family house a block away. Condos condos condos.
The whole time I was watching them go up, and seeing that the prices were (on average) considerably more than a single family home in the same neighborhood, I couldn’t help but wonder who was actually going to live in them…