And there's never been a top like this one
Oh, the pain to come...
But then again, didn't $700,000 for a one bedroom condo seem a bit high?
Mia Muratori knows the lasting sting of buying at the top of the market.
In 1988, she bought a house in the Midtown Brandywine section of Wilmington after relocating with her husband from New York City. Soon after, the red-hot real estate market weakened with the savings-and-loan crisis, a softening economy and DuPont Co. job cuts. In the end, it took more than a decade for Muratori to see significant price appreciation. "Not a fun experience," she said.
"We were just off the turnip truck from Manhattan," said Muratori, who is an artist. "All I can say is, you never want to do it again. I never enjoy losing money."
November 21, 2005
Posted by blogger at 11/21/2005