Yup! It looks like the home prices in the States are starting to decline according to this article http://news.yahoo.com/s/afp/20060824/ts_afp/useconomyproperty_060824212809
from yahoo news.
We luckily sold our home in 2005 for $950k that was purchased in 2003 for just $650K! It was difficult emotionally to sell, what at the time was our family dream home but looking back, my wife and I have finally come to terms with it. The big question for us now is do we buy or rent in Argentina and is there a bust brewing down south. My uncle happened to come across 8 blocks of land in a place called Maradriaga which is about 4 hours away from BA and a short drive to the beach for only $25,000. I am wondering if those bargains are still out there. On the other hand living so far away from the infrastructure of BA would probably not be a good idea for us since we have kids and my wife and I are fairly young. I guess we could take advantage of those prices by making a purchase by the beach a vacation home. We will just have to wait and see.
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