We’re in one of those cycles although this one seems deeper than the others I’ve experienced in the past. Sorry to say I think it’s going to be much longer than after the election, btw, I hope I’m wrong.
We’ve been through this back in the early 90’s remember. It takes a few years to recover. I see new construction slowing down which will cause less inventory and if they decide to build it will be much smaller and with more density type homes. Over building and putting people into homes they couldn’t afford was our first mistake.
Individual home sellers have fewer profit margins than home builders; so, if a home cannot appraise for a higher value, then a seller might remain put.
The issue at the core of the recovery is how long it will take to get the number of qualified buyers back. We have lost many homebuyers. All the people in foreclosure can’t buy for at least 3 years because of bank guidelines. Then they will have to save the money too. Plus we have taken some investors out of the market. At what point will new home buyers equal the old foreclosed people is the answer to when the market will come back. My guess is 3 to 5 years. LA Bail Specialist
Most very well qualified buyers were unfairly priced out of the market due to abnormal home prices, inflated demand for most sub-par properties, and predatory lending practices didn’t help either. It’s time for us to go back to the basics. It’s only fair that hard working Americans have a fair shot at the American dream. Need I mention that the Iraq and Afghanistan wars aren’t helping either? San Diego Cosmetic Surgeon
We’re in one of those cycles although this one seems deeper than the others I’ve experienced in the past. Sorry to say I think it’s going to be much longer than after the election, btw, I hope I’m wrong.
Skin Doctor
Comment by acne treatments — October 6, 2008 @ 1:58 pm
We’ve been through this back in the early 90’s remember. It takes a few years to recover. I see new construction slowing down which will cause less inventory and if they decide to build it will be much smaller and with more density type homes. Over building and putting people into homes they couldn’t afford was our first mistake.
San Diego County Vacation
Comment by San Diego County hotels — October 6, 2008 @ 1:58 pm
Individual home sellers have fewer profit margins than home builders; so, if a home cannot appraise for a higher value, then a seller might remain put.
Diet Planner
Comment by Hoodia Diets — October 6, 2008 @ 1:59 pm
The issue at the core of the recovery is how long it will take to get the number of qualified buyers back. We have lost many homebuyers. All the people in foreclosure can’t buy for at least 3 years because of bank guidelines. Then they will have to save the money too. Plus we have taken some investors out of the market. At what point will new home buyers equal the old foreclosed people is the answer to when the market will come back. My guess is 3 to 5 years.
LA Bail Specialist
Comment by Los Angeles bail bonds — October 6, 2008 @ 2:00 pm
Most very well qualified buyers were unfairly priced out of the market due to abnormal home prices, inflated demand for most sub-par properties, and predatory lending practices didn’t help either. It’s time for us to go back to the basics. It’s only fair that hard working Americans have a fair shot at the American dream. Need I mention that the Iraq and Afghanistan wars aren’t helping either?
San Diego Cosmetic Surgeon
Comment by San Diego County plastic surgery — October 6, 2008 @ 2:02 pm
I do see a slight decrease in inventory and an increase in sales over 90 days but I’m not buying it yet…it’s too early to see if the cycle continues.
Healthy Teeth Expert
Comment by San Diego implant dentist — October 6, 2008 @ 2:07 pm