The Sun Dollar

So I know some of us are still in college and the thought of buying a house is still far far away, but still it's good to know about these things.

Well, according to a brief story written by the Orlando Business Journal on a recent study released by Urban Land Institute and Pricewaterhouse Coopers LLP , it says that the future of the real estate industry is looking grim.

The real estate markets are supposed to hit rock bottom in 2009, so for those of you who are graduating next year: taking out a loan to buy a house might not be such a good thing, because there will "continue to be drop in property values, along with additional foreclosures and delinquencies."

This comes as bad news during these times where many people have already lost their homes.

The report also goes on to state that those who will benefit from these failing real estate markets are foreign "cash-rich" buyers who will take advantage of the weak dollar and buy off "trophy properties in major cities."

On the upside...(yes! there is an upside) those who are savvy investors will be able to cash in on the "inevitable recovery" sometime during 2010, or so they predicted.

So there is a quick rough preview of what our future looks like. Perhaps renting is the best thing we can do for now.

What do you think?

(Jacky)