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?
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.
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.
by REIMillions7 years ago
There has been many assumptions of when the real estate market will take a turn for the better. If you had pin point an exact year of when that would be what year would you determine and why?
by Ben Evans7 years ago
as the rest of the US economy is waiting for a reason to recover. Housing had a July 10 over July 09 plunge of 25.5 %.Unfortunately the real estate market was the preverbial tail waging the dog until its...
by dorado5 years ago
How have you or others you know been affected by the housing market crash and recession?Do you believe a "recovery" will leave things better, or less so?
by tipstoretireearly5 years ago
At what % commission does it make sense to hire a Realtor to sell your house?Many Realtors charge a 6% commission to sell a house. Some Realtors accept a 5% commission, while others insist Sellers will net more...
by ahsn_foreclosure7 years ago
Personally, I feel like the more Congress quote unquote "attempts" to address and help fix the Housing Market and Economic Crisis the worse it gets. What do you think the economic policy should be to help...
by Ken R. Abell7 years ago
Is the real estate market in you area in a boom or bust stage just now?
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