Yikes. Hearing this from someone in the construction business has me really concerned. I rent but my mother recently sold her home and bought an expensive new home instead of downsizing. She thinks she has made a great investment that will pay off for her kids down the road but I have my doubts about that. I wonder if rental rates will drop as well? I'm paying $1400 for a small condo!
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Well I hope in the future that investment works out for her. But I know we have a down trend coming , maybe for a year or two or maybe more. What I do know is I have been working non stop, for last ten years on brand new houses. And now it's getting bad. Every one says I'm crazy but what can yah do.