CEO of Tolls announces Depression in Real Estate
Posted on June 4, 2008
Filed Under Philadelphia Pa Real Estate |
Even though he is the largest luxury home builder in the nation, I don’t know if the guys is so on target with his statement even if it wasn’t about Philadelphia Real Estate. The guy was probably shocked by his losing money again this quarter.
Hows the Philadelphia Real Estate Market?
Well, he didn’t mention anything about that, but, I can tell ya….when I look around I see a lot of Sold signs! But, I’m sure thats no gauge on how the Philadelphia Real Estate Market is doing!
When will it turn around?
When will the real estate market turn around? He said in two or three years. But, He did mention when the turnaround comes house prices will march right back up.
What does the smart shopper do?
It’s just like everything else in life. Who has the guts to buy when the prices are going down? In the stock market, who has the guts to buy a stock thats tanking? I’ll tell ya who, the person with a long term outlook! That gets us back to real estate. If you have a long term outlook (20-30 years), nows the time to buy Philadelphia Real Estate. You’ll look back at this time period and just laugh.
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