Tuesday, April 1, 2008

Who Benefits From a Housing Slump


MSN Real Estate writes this week about the other side of the housing slump equation. We all feel badly for those who are losing their homes, but not everyone is in such a gloomy predicament. On the other side of a person desperate to sell a house is always a buyer ready to snag a great deal.

Living in the Pacific Northwest, I can’t help but be a little bit envious of some of the people in this article. Getting a house for $50,000? Wouldn’t happen to me, unfortunately. Because we live in an expensive housing market to begin with, it’s not as easy to find the cash to put down, qualify for the payment or rent something out for at least as much as the payment in Oregon as it is in some other markets. (On the positive side, I suppose, it’s not as difficult to do that here as it is in, say, San Francisco.)

But there are still a lot of good deals to be found here – relatively speaking. And if the economists are right, the bargains will only increase over the next year.

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I think this is the easy to see the problems, ranging from difficulty getting loans to being "upside down" on ones mortgage.

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