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So $450K is both a lot of money and not a lot of money. Yes you could maybe buy a house with it, but with the current economic climate of foreclosures just over
by bb88 6y ago
So $450K is both a lot of money and not a lot of money. Yes you could maybe buy a house with it, but with the current economic climate of foreclosures just over the horizon, I would probably wait for the market to bottom out to do it.
If it were me, I would start looking for vacation properties which are selling as a steal. Then when the real estate market recovers, sell it. And enjoy the wealth that comes with it.
- contrarianmop 6y agoI am in a similar financial position but in Europe. I considered buying a property, expecting prices to collapse, but instead prices are going slightly up - the EU overall has a 10% GBP drop compared to the IS’ 30%. Cynical as it may sound I was expecting a sharper downturn. Seems like people are back to work and thus there is no collapse in sight.
- seattle_spring 6y agoNot sure if you've been following the vacation rental market, but it's exploding right now. At least that's the case in the northwest.