Mark I saw the housing bubble coming. I made money in REITs, Real Estate Investment Trusts. The Fed predicted the housing crash when people were paying over market prices. The Fed posted an article about record foreclosures in Florida. Everyone here said it wasn't happening. I got out of REITs.
According to the news, a $300,000 loan once cost $1300 a month. After the Fed increased rates it's now $2000 payment. There may be cheaper rates. Fed is predicted to raise rates again this week.
Don't forget the price of lumber went through the ceiling. The price of copper wire is insane.
I refuse to build anything.
I built this house 30 ago around an old house.
I've owned this house for 45 years now.. I put 25,000 brick on this house and doubled the size It took me 5 years to completely remodel. Never again. This is my forever house. I built it the way I wanted it. I used plywood not particle board. I'll never sell this house and I'll most likely not buy another house in FLORIDA. I'm not that rich..lol
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Today's Featured Article - The David Brown Rose Badge - by Samuel Kennedy. In the 13th century civil war was raging in England. Two English noblemen were involved in a conflict which became known as the War of the Roses. The Duke of York had as his emblem a white rose and the Earl of Lancaster had a red rose. Today the white rose is the official emblem of the county of Yorkshire and the red rose has been adopted by the neighboring county of Lancashire.
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