Realtors: Do You Think the Housing Bust is Over?

  1. jamesrk profile image34
    jamesrkposted 5 years ago

    Realtors: Do You Think the Housing Bust is Over?

    Recent news medias are suggesting that the housing market has turned and coming back. What do you think by what you are seeing in your local market?

  2. SidKemp profile image94
    SidKempposted 5 years ago

    I'm not a realtor, but I hope you won't mind if I share my thoughts. I think the housing bust is long from over in the US. The number of houses in, or approaching, foreclosure is still huge, creating a glutted market, with supply exceeding demand. And, at the same time, household income is down except for the super-rich ($10M plus net worth), so demand, ability to pay, and ability to get financing remain weak, as well. While we may see local or temporary ups, I think these big-picture issues will continue to shape things for a decade or more.

  3. TomRy profile image71
    TomRyposted 5 years ago

    Currently the market is moving due to the summer
    months, it's easier for buyers and sellers to move during summer because most kids are not in school. Another factor is the good weather, people can go out house shopping. Also currently the banks are holding a huge number of foreclosures, which will be released to sell as REOs during the 3rd quarter.