Just a year ago if you didn't own a home you were out of the game. My what a difference a year makes. Now, if you own a home you're pretty much stuck. You have to find a buyer, a mortgage, etc.

 

Submitted: Jan 18, 2008    Views: 262    Comments: 1    Likes: 2   


View Article: http://www.nytimes.com/2008/01/18/business/18norris.html?_r=1&ref=b...


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Amelia
Amelia

We might have moved from the second inning into the third, but we are still in the early stages of this housing implosion. In most of the country, prices are still well above where they were 5 or 6 years ago. One commentator that I saw on Fox recently said that to get in line with historic prices we will see either another 25% fall immediately in most of the country now or the best case is that housing prices level and stay where they are for the next 5 years.

Posted: Jan 20, 2008

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or maybe a combination of both. housing comes down another 10-15% and then stays flat for the next 10 years.

it seems clear that real estate won't be a money maker for some time. although if one has cash in a couple of years it might be time to start investing in it again.



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