I read this in a University of the Pacific Eberhardt School of Business alumni magazine.
The author was referencing the California & Metro Forecast.
Housing prices will continue to decline until excess inventory can be worked down. Current worst case scenarios for some areas put declines in the range of 10-20%. A Bubble bursting? Hardly. If NASDAQ had fallen 10-20% in 2001 from its high point, would we still refer to it as the dot-com bubble?
That! Is the SMARTEST thing I have read about the so called bubble in a long time.
Well said! The one point that is not very often mentiond is, 'Relation to what'? The deline in prices would be in relation to the speculators frenzy in '04, '05. In relation to the prices before the housing boom, we are still way ahead.
The Public has also become smart by default with the availability of resources on the net to make informed decisions. This creates a natural barrier to responsible investing and realistic expectations.
No matter what the market conditions, there will always be deals for the ones who are willing do the hard work.
Appreciation is in the buy and the build.
Real Estate was, is and will always be 'Real'.
Posted by: Akbar Bhamani | March 4, 2007 at 12:17 PM
I Wonder what will happen to the foreclosure market
Posted by: Ernani Uchoa | March 6, 2007 at 05:46 AM
Great Post!
We publish charts that show statistically the long-term health and performance of housing over the past 40 plus years.
http://www.estateofmindcharts.com/2007.html
Posted by: Brad Larrabee | March 16, 2007 at 04:11 PM
I have to agree. Everyone is getting so worked up about the housing bubble. If there is a burst in housing prices I am going to buy as many investment properties as I can and clean up when the prices get back to current levels. I have friends that will not even buy right now because they think prices are going to fall. I tell them if you find a house you like that is a good deal to you go for it, but why listen to a real estate broker.
Posted by: Rocco | March 23, 2007 at 08:38 AM
I have heard about your website and blog from others, but never actually visited until I heard about
but what’s really important is that consumers are reading your blog, whether they comment or not. I don’t have many comments on my blog
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Real Estate was, is and will always be 'Real'
Posted by: archar mical | March 31, 2007 at 02:19 AM
The answer of this question from mars 02, 2007 are what Moody's Economy.com report new in September 2007 that “In the latest news from the slumping U.S. housing market, a report released this week says that median house prices are likely to decline more than 10% over the next few years in 20 metro areas, including Las Vegas, Tucson, Ariz., and Washington, D.C.” We has already have our price fall here in Marbella in Spain over the last 2 years with a drop of 10 -15 % before it stop falling.
Posted by: Sundream Estate Lennart Heleander | October 3, 2007 at 06:38 AM
Todays NAR alerts sees that "ample availability of financing and advantageous pricing create conditions for improved sales in 2008" and that U.S. foreclosures decreased 8% in September compared with August when they hit a 32-month peak.
Posted by: Tim O'Keefe | October 12, 2007 at 12:47 PM