I don't pay attention to my standard bank interest rates, because we don;t have bank savings accounts--we have alternate long term savings and money market accounts--THOSE rates we are certain of, because they actually yield something of value!!
If you have money you can tie up for a couple of years, I think the time is ripe for purchasing "tax sale" homes! You typically pay around $2-3000 (the tax that the homeowner owed before they abandoned the home or were foreclosed on) for the home, and 2 years later, if the tax debt is still not paid, the house is YOURS! But even if the tax is paid off and you lose the home, your money had been put in an escrow account generating 20 PERCENT interest for those two years--more than you'll get keeping that money in any kind of savings account! You lose nothing!
Starter homes (cape cods, small ranch types), ar teh ones you should consider scooping up--they'll be the first to sell!
at 10:09 AM on Jul. 11, 2010