If prices are going down, when are they going to go up? or if prices are going up when are they going to go down?
2006-06-21 12:18:59 · 14 answers · asked by Fernando M 1 in Business & Finance ➔ Renting & Real Estate
Slightly down, but they are still high
2006-06-21 12:21:46 · answer #1 · answered by Anonymous · 6⤊ 0⤋
Prices in California keep going up. The prices for homes in that state are ridiculously high. People are trying to move out of California that really know the housing market. While others'dream" to live there. Must have "dream" money if thats the case. I could never afford to live there.
2006-06-21 12:24:39 · answer #2 · answered by Chauncey & Tina 1 · 0⤊ 0⤋
Up and up and up and up. I live in the cheapest part of CA and I am sure it will take a major earthquake AND a Tsunami to make house prices go down even here. On the coast, it will take not only those, but an end of all computer companies, and ...and... and... Not likely in the future.
I just can't figure out how people can afford to buy a house in this state at all. If you didn't buy in 1990, then you are SOL. or so it seems.
2006-06-21 12:57:37 · answer #3 · answered by tree_science_gal 1 · 0⤊ 0⤋
Days on market has gone up and appreciation has slowed. Unless the economy slows drastically or there is a big jump in interest rate, I do not expect prices to come down. Rents are going up (narrowing gap between rent and ownership cost supports justification for buying). My recommendation is to shop and not be in a hurry to buy. Pick ones that have been on the market 30 plus days, especially those that have adjusted the asking. Bargain hard and use any defects to your advantage.
2006-06-21 16:43:41 · answer #4 · answered by fijian 2 · 0⤊ 0⤋
As of right now the prices are going down, but the interest rates are increasing which averages out the cost so there is no decrease, later they will go up again.
2006-06-21 12:21:58 · answer #5 · answered by charmito 2 · 0⤊ 0⤋
They will keep going up. Land is getting scarce and in some areas there is no place to build except for condos and such. People who move to California should be prepared to pay a large price for a small home.
2006-06-21 12:23:48 · answer #6 · answered by ladybug 1 · 0⤊ 0⤋
They are4 leveling off and may drop a bit. However, the are going up over the long run and will continue to do so. It's called Supply and Demand. As long as people continue to move to California, Real Estate is going to be in high demand.
2006-06-25 16:52:28 · answer #7 · answered by Anonymous · 0⤊ 0⤋
They are gradually going down. Some areas have maintained there values while others have not. Prices will peek this summer, then come down again.
2006-06-21 13:14:00 · answer #8 · answered by Ren 3 · 0⤊ 0⤋
House prices will comedown in California as well as through out USA cause economic recession..As corporate borrowing gone up so in housing market prices will breakdown..(collapsed)..
2006-06-21 12:25:49 · answer #9 · answered by precede2005 5 · 0⤊ 0⤋
Down, but as slow as molasses. In two city, one in which I used to live, houses are still 68% more than they should be. And where I live, they're still 61% more than they should be. But it will gradually go down. Where I live, the mediun price is $271,000.
2006-06-21 12:22:50 · answer #10 · answered by Anonymous · 0⤊ 0⤋
It all depends on the area. I think in the Bay Area they have leveled off for a while and won't grow so much anymore. As far as other areas, if there is room for growth and development such as maybe Sacramento, I would say they are growing.
2006-06-21 12:23:35 · answer #11 · answered by Kitty 5 · 0⤊ 0⤋