One of the nation's largest home builders Toll Brothers Inc. chief executive said that the housing industry is in a “depression” and any recovery could be two or three years away. Robert Toll said he’s not ready to call a bottom yet because the housing market could still get worse.“Can the market go down another 10 or 20 percent? Sure,” said Toll, whose company will sit on cash unless a bargain land deal comes along.He said the current housing crisis is the worst he’s seen since the mid-1970s, but back then the decline was relatively short-lived. The current downturn started in late 2005. San Diego for sale by owner real estate
3 thoughts on “Housing Industry is In A Depression”
Comments are closed.
Consumer demand will drop. Unemployment will rise. The US will go into a recession at best, a depression at worst. Expect first stagflation (high inflation and high unemployment), both because of the increased price of imports and deliberate pump priming by the Fed, then deflation, as asset prices collapse so hard they take everything else with them. The other likely scenario is stagflation followed by hyperinflation. Formal inflation numbers put out will become not just a joke amongst market-watchers, but amongst the actual population. Same thing with unemployment numbers.
SD Clinical Research
It’s sad, really sad, because the people that are losing these homes have names and faces. They could be your brother, your sister, your parents. Most of the time, we tend to think that the foreclosures are mainly real estate investors or flippers that are just letting their investment properties go back to the bank, but the reality is there are a lot of families living without homes.
Bail Bonds