Spring Housing Market Rebound or Good Times Just Around The Corner..Yeah Right
"I don't think we've seen the bottom," said David Berson, chief economist for Fannie Mae. "We're going to see a much bigger drop in investor demand this year. But by the second half of the year the market will stabilize, if investors pull out quickly."
The weakness will extend to existing-home and new-home sales and housing starts as well as to home prices, which are likely to show their first full-year decline nationally since records have been kept, economists told home builders at their annual convention. [tags] housing market,real estate,real estate bubble,real estate bust,San Diego real estate[/tags] San Diego real estate agent
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Yep, good times are “just around the corner.” Unless, of course, you look at the long-term median prices, run-up charts, affordability, default rates, foreclosures, etc. Tijuana Mexico dentist
I just heard on the news that someone in NJ just shot some people over a RE deal he lost money on. Anyone heard anything about this? you’re gonna see a lot of that, along with the mysterious fires.
I read that article with disbelief.I live in the desert and can tell you, the bubble is starting
to deflate. We have three times
more houses in inventory than
we did 4 years ago. And something
that I never thought I’d see
is short sales. There are 3 in
La Quinta I know of and I’m sure
many more coming up. I thought La
Quinta would be immune.. it’s not.
There is a beautiful house in
short sale for 425 in Topaz, 4 bedroom, 3 bath, 3 car garage with
pool and spa that would of sold for
over 500 in August of 05… prices
are coming down. Don’t let the
realors lies fool you.. don’t buy
in a market that’s clearly searching for the bottom.. and the
bottom is nowhere in sight.
In my humble opinion the real state market is headed for a crash much
in many ways resembling what happened in Japan during the 90’s. Our
stock market followed Japan’s lead 10 years later our housing market
followed theirs 10 years later. If you put a chart of the Japanese
real state market from 1980 to 2000 it mirrors the real state market
in the US to a T from 1990 to 2005 and just around here is when theirs
went flat.
I’m renting and waiting to scoop up at half price, just like Buffet.