Posted on 01/19/2013 1:49:18 PM PST by Lorianne
If there are people to reside in them, there is a floor to the decline, that being comparable rents. Servicable, practically new, completed structures for less than the cost of materials is a major anomaly that will represent an opportunity for the brave soul with the nerve and the reserves to buy. Government-related expense could drive it down further still, but an equilibrium will be found where demand for shelter exists. If any razing occurs, it will be decrepit, neglected older structures that are basically “totalled” to borrow an automotive insurance term, more expensive to repair than their worth on the market.
If someone had the cash, it might be a good time to buy a vacation home in sunny Spain.
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