Real Estate Home Values to Drop Back to 1999 Prices
"Prices will fall in half. We'll go back to 1999 prices. It could be worse. Don't be surprised by my statement. Let's just look at what happened in the 1980s and 1990's downturns. It's easy enough to look up at the County Recorder Office, or on the MLS, but neither the County Recorder, nor the realtors, wants to advertise the ugly truth: CA has 15 year housing cycles and prices fall 30 percent to 50 percent in a downturn." Schahrzad Berkland (CaliforniaHousingForecast.com)
[tags]real estate values,real estate bust,real estate market,housing market[/tags] San Diego downtown condos San Diego real estate market
If you enjoyed this post, make sure you subscribe to my RSS feed!
6 Comments
Comments are closed.
A large percentage of current New Jersey listings have been on the market for over 180 days!!! New Jersey personal injury attorneys
Real estate prices in San Diego have definitely been reduced between 15% and 20% in most cases and more homes enter the market every day. Strong Buyers Market Continues !!!
The goverment should take draconian measures like a creating a repo market to hide bank losses ? Or maybe draconian measures like bailing out home speculators because they might incur a loss?
Owen
San Diego California real Estate
We have excessive real wealth that is burnt away by the finance industries in sucking real good money after worthless assets. Energy, Commodities hit so high that pull the carpet from under everyone’s feet.
Andrew
San Diego County Dentists
OK America Business & Politicians…..its time for you idiots to get out of the way of those who have real answers to save the economy. You idiots have been in power too long. You don’t know what you’re doing trying to save those stupid banks and mortgage companies. You’ve screw the American public oput of their equity in their homes, that which was driving this economy. Theat was the “ATM” of the consumer. Let OBAMA and his team come on the field and shut down that stupid war, and put plans in place to put America back to work.
Kim
Oakland California law
If I predict recession every year I will get it right eventually.My understanding of economics is that something either goes up or it goes down. There are 50-50 odds to guess right. Some may guess 60% right but will eventually revert back to the mean. Its too bad this is a time when the system has been raped for every nickel and dime for the next few years.
William
California lasik Surgery