The housing collapse had affected Rockland County in plenty of ways. A lot of properties throughout Rockland had lost plenty of it’s original value. Plenty of people lost their jobs and others were struggling to make ends meet, resulting with inability to pay mortgages. These are hard time and you cannot deny that. It is important to keep in mind that there are still “millions” of houses that are foreclosed or on the process off foreclosure nationwide. Due to the really low interest rates of mortgages and the low value of properties, I guess it is safe to say that this has become a “buyers” market. On that note, it  is also important to bear in mind that due to the harsh economic downturn that the country experienced it can take us a long time for the housing market to get back to it’s original prices. Therefore, as much as we can say that buying a house at these low prices would be considered a good investment in the future, the uncertainty of the market still tells us that we still don’t know if we have already reached the bottom (price) levels and how much longer until the market uncertainty stabilizes. As much as we can say that buying a house now is “great investment,” in reality it CAN be, but not for long time. On that sense, I believe that instead of buying a house due to its depreciated value and the prospect of IT being PROFITABLE in the future, look at it from a different stand point. Let it be a home and a shelter for you and for your family, it’s going to take us another 10-15 yrs. or more for the house prices to get back to it’s normal levels.

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