Everyone thinking about buying a house should read this:<\/p>\n
Sell Now! : The End of the Housing Bubble<\/a><\/p>\n One of my favorite quotes in the book talks about how the housing market in San Antonio has dropped 20% in value as of late, but nobody knows it because its typical that people don’t adjust for inflation or for the lower interest rates (which lowers the value of owning a home since it becomes less of a tax-shelter when interest rates drop).<\/p>\n Another great article of relevance is “The New Road to Serfdom: An Illustrated Guide To The Coming Real Estate Collapse” in the May 2006 issue of Harper’s Magazine<\/a>.<\/p>\n I no longer have the desire to own a home. \ud83d\ude41<\/p>\n Update<\/b>: Wow, looks like San Antonio is worse than the book said it was:<\/p>\n San Antonio’s housing market has one of the highest foreclosure rates in the country, according to RealtyTrac Inc.’s 2006 U.S. Metropolitan Foreclosure Market Report. <\/p>\n The Alamo City ranked eighth nationwide in the number of foreclosed properties — reporting one foreclosure for every 133 households in the first quarter of 2006. <\/p>\n