Should I buy a condo in Palm Springs, CA?

Question

or will real estate prices drop more? It's just over-priced. But hey, I'm from the midwest.

Answer 1

I see nothing to indicate the drop in housing prices is near an end.  In my opinion, the danger now is that inflation has stopped the Federal Reserve from reducing interest rates for now, and the Fed may have to raise rates to scare people and help reduce inflationary pressures. Watch commodity prices - steel, copper, corn, cotton, oil and if they continue to drop it may signal home prices will stabilize in the next year.

If you really want to bottom fish, if you can find a nice condo in a  great neighborhood for less than half the price that condo would sell for three years ago, it may be ok,  to hook into that unit!