LOL Learnin'
Sounds like the people that are talking about housing prices to "0"....LOL Supply and demand with price is what to watch. Basically with the internet people are better educated about what is happening all the time. 15% of all listing have been dropping in price every 2 weeks here for over a year now, with prices back to 2003 levels.. Can it go cheaper, not unless new houses get cheaper.... Right now all the excess that was bought in the 2004-2006 timeframe is coming to market as bank owned. That is driving prices on existing homes down even more. Those who bought before that time frame are still ahead in equity. That inventory of bank owned is being bought and will evaporate the inventory by year end to normal levels. That should stabilize prices once that happens, also at the time it is cheaper to buy than rent, people will buy, that is where we are right now and investment groups are buying up cheaper properties to rent out.... This is America...... not Japan. The banks greed did them in and the Fed is taking care of this.... this too will pass as a new cycle of greed starts.... Jobs are still looking good and when the inventory is done, building will begin again, with more common sense at least for 15 more years when the greed factor will come into play again LOL Good thing about Americans is they don't study culture and when women want a new house, they get a new house..... that is another subject that I will not open on Mother's day LOL
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