Housing Decline Predictions

[unlawflcombatnt]

Here's a partial exerpt from a December 16th article from CNN showing anticipated price declines in both 2006 and 2007.



The article can be found at Is the party over

[Zynx]

1. Of course there will be declines in many markets.

If they didn't correct in price we would have to wait a very long time with stagnant prices until "fundamentals" catch up. I fear that the declines in California, Massachusetts, Washington D.C., New York, Arizona, Florida, and other markets will be far worse than they predict. Prices have dramatically overshot due to temporary factors that were favorable to price appreciation, but now those factors are receding and more normal conditions are taking hold and people will be facing declining prices before long. Some markets could easily see 30-50% corrections. It has happened before.

[unlawflcombatnt]

2. Reposted

I corrected and re-started this post at: http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=2350117&mesg_id=2350117