Business Week has a solid article about housing prices in the coming years. "By 2012 we may finally get back to blissful boredom. With any luck, three years should be long enough for the U.S. economy to recover and for the nation's housing inventory to shrink to more normal levels."
"Prices? While they're likely to keep falling a while longer under the weight of foreclosures, the market is definitely closer to the bottom than the top."
In most bubble markets, a bottom in terms of prices is not here yet as prices will continue to fall over the coming months and into 2010. After that I expect a long period of very low price growth. Current buyers would be foolish to expect a quick jump and return to 2005 & 2006 prices.
Friday, June 19, 2009
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