Fed Chief Bernanke said the deepening housing slump will probably keep dragging on economic growth, but he again pledged to "act as needed" to help the financial markets.
Also, today Treasury Secretary Henry Paulson warned: "But let me be clear, despite strong economic fundamentals, the housing decline is still unfolding and I view it as the most significant current risk to our economy. The longer housing prices remain stagnant or fall, the greater the penalty to our future economic growth."
A few of our prior posts on the Federal Reserve chief's remarks were:Former Fed Chief … Would Not Be Surprised If The Housind Drop Was “in double digits.”, $100,000 Cuts on New Homes Nationwide!, Home Mortgage Interest Rates Move Higher, Mortgage Rates Hit 6-Month Low [tags] Ben Bernake, Henry Paulson, housing market, housing outlook, real estate bubble, housing bubble[/tags] San Diego real estate agent
Is buying now the best option? YES! I’ve stated it repeatedly, but somehow, buyers are still on the fence. Don’t delay, as rates are good and prices are even better. San Diego C21 agent
We are in the midst of the best buyer’s market we have seen in years. Buyers and sellers need to be extremely careful navigating thru this depreciating market. San Diego MLS
Yes, it is still a Buyer’s Market, however we are beginning to see a leveling out on real estate prices the best way to put the market now is that if you are thinking about buying within the year you may just want to go in and make an offer. San Diego downtown condos