April 21, 2007
Nah, home prices aren't in freefall. Nah, there's no housing crash underway. Pssst... someone tell that to Lennar!
Hat-tip to Housingdoom (again) for this one. One word folks: FIRESALE!
Man, wanna have some fun? Run around to new home communities and ask for 50% off the original price. At least you'll get a nice counter offer. But obviously don't buy unless you can rent the place out for positive cash flow. Do that math with the builder on that one too...
Oh, for extra credit fun, go knock on doors in these new home communities and let the neighbors know how far their homes have fallen in value since they bought. Let 'em know the builder is conducting a historic firesale that will destroy the comps for years to come.
You might want to bring protection.