July 12, 2024

"The housing market is profoundly weak,” said Ken Mayland, president of Clearview Economics. “The economic slowdown really took hold in the third quarter, and, I think, it is going to basically continue through the first half of next year.”This underscores an important fact about the economy. It can be temporarily bolstered by an irrational buying trend, but eventually it returns to reality. 2007 appears to be headed for a reality check."[tags]housing bubble, real estate bubble,housing market,home sales,real estate sales[/tags] San Diego Realtor

5 thoughts on “Real Estate Downturn Expected to Continue Through 2008!

  1. Instead of giving a bunch of money to different levels of government, why not directly incentivize investors to pick up those houses and get them rehabilitated and back on the market? We all know that local and state governments are not the most efficient handlers of these situations. If they put stuff out for bids, the crisis will be over before they are able to move. If they don’t, they will send work to their friends… regardless of their ability to efficiently do the work.

    Judy
    Oakland California Law

  2. People want MORE than what they can afford. If they did not, there would be no such thing as a credit card or a mortgage to begin with. If you want to be 100% honest, the only people that can “AFFORD” to purchase a home are the ones that can pay cash. EVERYONE ELSE…LITERALLY EVERYONE ELSE is at risk of borrowing money and not being able to pay it back. They could lose their job. They could die. Anything could happen.

    Mitch
    San Diego County Lasik

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