Barry Ritholz from the Big Picture blog says we’re in a similar period in the housing cycle to the market from 1989 to 1991. He points out that people who bought in those years did not get to a break even point for about 6 years and those who bought real estate in 2005 to present will most likely face a similar fate. He points out that prices are declining because of a surplus of inventory, higher interest rates, a reduction in credit availability, and an economic contraction throughout the country. His advice to people that have to sell is to be realistic about pricing and take the trends in the marketplace into consideration.
Where Are We in the Housing Cycle?
February 6th, 2008 · No Comments
Tags: Market Forecast