Shave And A Haircut

So, what does buying at the peak of the housing bubble and selling into a downward spiral look like? Take a gander at this house here:

http://www.redfin.com/WA/Auburn/5727-Francis-Ct-SE-98092/home/3001309

The sellers purchased this home from the original owners in 2005 for $540,000 and made a nice profit. The second owners (or the bank, this was probably a foreclosure) just sold for $339,000, a $200,000 loss. That loss is going to leave a mark in someone's books...

Still think it's a great time to buy a house? Think again - we are no where near a housing bottom, analysts are revising calls for us hitting bottom this summer to as far out as 2016.

Remember folks, a house is not an investment, it's shelter...and it's about damn time those in the lending and housing industry start treating it as such.