Ladies and gentlemen: this is going to be a short post--cut your losses short.
The Reno real estate market topped August of 2005:
Let's say that there is absolutely no way that we would have known about this. As the chorus goes " nobody can't predict what the future holds"--(which I don't buy.)
Market topped, on it's way to avalanche down for the next...well, up until now. So is this the end of the world?
No.
Reno homes median price:
June 2007: $319,900
June 2009: $184,044
Cut your losses short (graph):
(click to enlarge)
Ladies and gentlemen, even if we were a year late in learning about the market crash, we could've still saved $135,000.
Cut your losses short. We can never be right 100% of the time but if we cut our losses short we would live to see another day and avoid being wiped out.
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