I think, absolutely, the first chance for any kind of housing recovery is late 2010. We’ll see some bumps from the stimulus and the economy will look somewhat better than it really is. But we won’t see any housing bottom — and I’m talking prices — until late 2010. To me, the price is the most important thing.
Friday, May 01, 2009
When will housing prices recover?
The view of First American CoreLogic economist Sam Khater:
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That sounds about right to me, I guess. Certainly now now, nor would would it be any time this year.
ReplyDeleteBy this time next year, things should be a lot clearer.
Nobody knows where prices are heading. No one knows what the future will bring. RENTING IS CHEAPER THAN OWNING!!! IF YOU HAVE A GOOD SOME OF MONEY AND YOU ARE FINANCIALLY SECURE, KEEP RENTING AND LET SOMEONE ELSE WORRY ABOUT THE UPKEEP WHICH CAN BE VERY EXPENSIVE!!!I I think by September 09 the commercial R/E will bring another economic meltdown. Watch and see!
ReplyDeleteunhommecharmant, a few comments:
ReplyDelete1)Sure, nobody knows what the future will bring. But intelligent, thoughtful people can make probability based predictions. And its a particularly wierd thing to say when your comment ends with prediction of another economic meltdown.
2)In my area at least, buying has become cheaper than renting. I'm still waiting to buy because i beleive both will continue their price declines and I don't waent to be locked into a morgtgage while prices are falling.
3) Writing in ALL CAPS WITH MULTIPLE EXCLAMATION POINTS AFTER EACH SENTENCE IS LAME AND STUPID!!!!!!!!!!!!
Mr. Kahner,
ReplyDeleteCalling me names speaks volume about you and your manners. Juat wait and see in September.
did you read my post? i didn't say you were wrong about a second economic meltdown. i said it makes no sense to say "no one can predict the future" and in the next line make a prediction about the future. I also pointed out you are wrong about rent vs buy costs in my area. then i said USING ALL CAPS AND EXCLAMATIONS IS LAME AND STUPID!!!! Pointing out how you are wrong and somethig you did i think is lame and stupid is not really calling you names. oh, and once again its funny for you to call me out for name calling a sentence before you insult me and my manners. you see (well, clearly you don't see) its about logic and consistency in your statements. if you just say stuff, then immediately contradict your own point, it really undermines your credibility. you make me laugh because you're a silly person(there, that was name calling).
ReplyDeleteHe does have a point about the miles and miles of empty offices in MD and VA. What are they planning on doing turning those into rental apartments too? Tear downs? What? Sit there and rot like the Rustbelt?? Its going to get interesting that's for sure!
ReplyDeleteYeah, commercial real estate, from what i've read, is gonna be a huge problem. I don't really know much about CE though, and no idea if it will or will not cause a "second economic meltdown". In my opinion, we're still in the midst of the first anyway, so it would just be a horrible continuation. The green shoots media keeps talking about have pretty shallow roots.
ReplyDeleteyeah well I dont agree it will cause a "second economic meltdown" either. However to answer the question with my opinion, I think prices will stop dropping in a year or two, and stay stagnant for perhaps 10 more? So if recovery means to stop falling, pretty soon...if it means gaining value, its going to be disappointment.
ReplyDelete