Upside Down is the New Right Side Up
By Oppenheim Law on Florida Law, Foreclosure, Real Estate & Roy Oppenheim
One of the things I wanna talk about real briefly is the fact that so many people are now underwater in their homes. In fact, the latest studies are suggesting that as much as 50% of the entire U.S. population will be underwater by 2011. Here in South Florida as much of about 50% of the folks are now underwater, and in places like Vegas, we have as many s 86% are underwater right now.
And so what we’re seeing is that upside down is effectively the new right side up, and we all have to start to think about owning a home a little bit like owning a car. When we pull a car off the lot, a new car, typically, we know that we’re gonna be upside down for a while. And so one of the things we have to start to think about is that being underwater is gonna be the new right side up. ]
So if you have any questions, just feel free to call me. Roy Oppenheim, take care.