A World Recession

[KAPital PHINUst]

Originally Posted by Educatingblue

My husband and I are in the process of looking for a new house and as everyone knows it IS a buyer's market. Not surprisingly, the majority of homes we have looked at are pre-foreclosure are already in foreclosure. We looked at a nice sized house (not even 2 years old) last weekend and the owners were so desperate to make a sell, they have it listed at a ridiculously low price (3 bdrms, 2 1/2 baths, 2-story for $112,000!!).

Question, is the price really ridiculously low or has the price of homes in the area been historically artificially inflated?

I am very concerned about our economy and wonder how much more we will have to pay for goods and services. It will be interesting to see how some people who have gotten used to a "comfortable" lifestyle will adjust paying more for less and unable to keep up with the Jones'.

Indeed it will be.