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While it will be no bad thing in the short term, many US residents will be financially scarred for years to come - and as mentioned above, a massive 1.5 million are expected to lose their homes in 2007 alone.
Future Real Estate Market in the USA
The authorities have tried their best to discourage over exuberance in the property market, but buoyed by a rising stock market many Americans have decided to ride their luck a little longer. For some the gravy train may about to stop, and we should see a move towards more responsible house buying patterns over the next couple of years.
While long term the market has massive potential for substantial growth there may be better opportunities over the next couple of years, after the steam has been taken out of the current market boom...
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