July 12, 2024

housing market bubble"I don't think we've seen the bottom," said David Berson, chief economist for Fannie Mae. "We're going to see a much bigger drop in investor demand this year. But by the second half of the year the market will stabilize, if investors pull out quickly."

The weakness will extend to existing-home and new-home sales and housing starts as well as to home prices, which are likely to show their first full-year decline nationally since records have been kept, economists told home builders at their annual convention. [tags] housing market,real estate,real estate bubble,real estate bust,San Diego real estate[/tags] San Diego real estate agent

4 thoughts on “Spring Housing Market Rebound or Good Times Just Around The Corner..Yeah Right

  1. I just heard on the news that someone in NJ just shot some people over a RE deal he lost money on. Anyone heard anything about this? you’re gonna see a lot of that, along with the mysterious fires.

  2. I read that article with disbelief.I live in the desert and can tell you, the bubble is starting
    to deflate. We have three times
    more houses in inventory than
    we did 4 years ago. And something
    that I never thought I’d see
    is short sales. There are 3 in
    La Quinta I know of and I’m sure
    many more coming up. I thought La
    Quinta would be immune.. it’s not.
    There is a beautiful house in
    short sale for 425 in Topaz, 4 bedroom, 3 bath, 3 car garage with
    pool and spa that would of sold for
    over 500 in August of 05… prices
    are coming down. Don’t let the
    realors lies fool you.. don’t buy
    in a market that’s clearly searching for the bottom.. and the
    bottom is nowhere in sight.

  3. In my humble opinion the real state market is headed for a crash much
    in many ways resembling what happened in Japan during the 90’s. Our
    stock market followed Japan’s lead 10 years later our housing market
    followed theirs 10 years later. If you put a chart of the Japanese
    real state market from 1980 to 2000 it mirrors the real state market
    in the US to a T from 1990 to 2005 and just around here is when theirs
    went flat.

    I’m renting and waiting to scoop up at half price, just like Buffet. 🙂

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