A CNNMoney article today point out how terrible the current housing market is due to the failure of sub prime lenders. Certainly if you are a distressed seller, this could be true. But for everyone else this is a great buying opportunity. The article points out how foreclosures will drive prices of housing down. Just like the stock market, sometimes housing must have a "correction" as well. The current problems in the housing market are an opportunity for those of you who have been priced out of the market to seek out a distressed seller and get yourself a "steal". Those who buy homes going into foreclosure (like myself) see a gold mine out there.
Success comes when opportunity and preparation meet. Most of the time we see opportunities passing us by because we have not prepared (I know I have). If you are not prepared for this opportunity, get your finances in order so you will be the next time. Opportunities are never "once in life time". They constantly come into our lives. When your eyes are open and you are ready, you will find the gold at the end of the rainbow