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Evidence of a real estate crash has become overwhelming. Take a look:
- In Bethesda, Maryland-an affluent suburb just north of Washington D.C. - prices declined 16% in one month, from December 2005 to January 2006
- In Calaveras County, CA-a popular gold mining country tourist destination 90 minutes from San Francisco-lots that were selling for $100,000 in August can now be had for $50,000.
- In Miami, less than 14% of residents can now afford to buy a medium-priced home.
- In Las Vegas, CBS news reports that rising materials costs and falling demand have forced some builders to walk away from half-completed condos-instantly impoverishing investors who have paid as much as $41 million for non-existent apartments.
- In California, home to some of the country's priciest real estate, mortgage defaults have increased by an incredible 62% in the past year.
- Nationwide, the Census Bureau reported home sales fell 10.5% between January and February 2006. In the same period, the median price of a home fell by $6,900 or 3% in a single month.
At Newsmax,, we've been warning for nearly two years that a real estate crash was inevitable and that a "soft landing" was unlikely.
Now the crash has begun with implications for the entire country. You need to take steps immediately to protect yourself-if you haven't done so already.
With home inventories soaring, interest rates rising, and mortgage defaults multiplying, the question is no longer "Will real estate fall?" but "How bad will it get?"
Protect yourself-and discover the brand new investment trading vehicle that helps you profit as housing prices fall-now. Get a copy of the brand new FIR special report 5 Ways to Protect Yourself – and Profit – From Today's Real Estate Crisis.
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