Market bulls believe home prices could bottom in the second half of 2010, but the bears warn it could be 2013 before they finally trough. And once prices do reach a low, it could be years before they significantly rebound.
Saturday, June 20, 2009
When will housing prices bottom?
From Fortune:
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4 comments:
All of this oversimplifies the housing market. There are different geographic markets, and even in one area there are different markets for different types of housing (house, condo, etc), and for that matter there are effectively different markets at different price levels (for example, >1M$ is really a different market than ~250K$).
Considering the current economic situation in the country, home builders are also working doubly hard so people can afford their own homes.
I think real estate market will take around three four yrs more to show some consistent growth. The effect of economy downtrend is has just started to be observed in small countries who used to be favorite destinations for off-shoring.
The rise in interest rates and the difficulty for many to get loans is definitely not helping in the recovery.
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