unREALestate

Proverty, I mean property values have declined since 2005. The game in not the same. Heck, even the prime-evil mansion that looked haunted would sell well in 2005. Fast forward to 2009 and you have trouble moving even the cheapest low rent houses.

Banksters are not in a good mood and even the 'lone' rangers cannot get financing. I predicted that our unREALestate market would fall like a house of cards, but few could imagine the dramatic drop in prices.

The states hit the hardest are California, Florida, Nevada, and Arizona. Governor Arnold Schwarzenegger is calling for laying off thousands of workers and deep cuts due to declining property taxes. In Florida, the economic recovery is a mirage as more malls close. Half finished condos dot the beach.