Does any one think that homes prices well drop 50% in the next 2 years?

Question

buying a home in Houston ,TX

Answer 1

Also pay the house off it seems by the numbers the 95% of the population the house is there biggest asset when they die . The housing bubble is slowly deflating . The Fed will continue to raise rate to control inflation and with high oil prices . The overinflated housing sector is in trouble . Also there is alot of mortgage fraud and when it goes south it will slide good .Also look who buying houses .Last year 1 in 3 unit sold in Miami was sold to an investor looking to flip the property . So all in all . I'm guessing 25% slide because of the different in what a interest only loan Vera a 30 year fix cost you . Eight years ago I started buying rental houses 1 @ a time and no one liked the idea . I'm up to 12 house now and it seems like everyone I know want to become a Realtor or mortgage broker or contractor . Hell it even on main cable channels. So Once again I go back to the theory that when everyone talks about it's over . Anyway if your buying and holding a house who cares about the price . Your forgetting the most important thing about money and its the ( time frame ) . So get a affordable mortgage on a fix rate and keep paying on it . Paying rent for several years trying to bottom fish on housing prices is a hard thing to do . Also you get a lose the tax advantage for what interest you pay .( at least for now there a rumor Congress was looking @ ending the tax deduction on mortgage to pay off the debt was in Forbes Mag ) Anyway just my 2 cents

Answer 2

While real estate prices may continue to go down the general feeling in real estate where I live is that the market may remain slow for about 2 years. If prices dropped 50% the economy would probably fold in on itself and snowballs would be seen in the desert. Could prices fall 50%? Anything is possible but I wouldn't bet a penny on it. Even in a bad market real estate is a good investment when done correctly. Don't go broke to buy a house. Save and buy a starter home then move up when you can afford to wisely.

Answer 3

Houston may drop 35% over 3 years.

Each market is different, and it will depend on the local economic factors over the next few years as real estate begins its decline back to traditional levels/fundamentals.

For example, if your area experiences a huge boom due to some odd factor - like the "next Bill Gates" sets up a company there.

Generally, real estate will decline. Cannot predict how much, where and by how much. You may want to check old graphs available on-line for the real estate decline of the late 80's through early 90's to learn what happened in Houston during that decline.

Answer 4

whats up some thing is accessible...And the sky is falling too. The economy right now sucks because it did back in the course of Reagan's time. The economy will %. back up in 2 years. The housing bust will be back to familiar and residences will commence to promote back. some elements will lose massive numbers at the same time as others will will stay the position they are. The losses are there and as quickly because it stops. residences will enhance in fee back. back contained in the 80`s residences had dropped in fee one hundred` of thousands of bucks. those that purchase residences had lost there total 20% down funds and the position screaming on the builders. builders the position stuck dumping residences for much less then what they value to construct. it is a poor cycle. Todays marketplace of residences must be the subsequent cycle. in case you may carry on till it ranges out and begins back up then you actually are good for the longer time period.

Answer 5

Not 50%. If you look at the past trends, the drops are always 20%.

Answer 6

Nope. I see them going higher actually. With the population growing there is a higher demand for housing. With higher demand comes higher prices.

Answer 7

i don't think it will drop 50% but it might decline by 20% beacuse people are not going to be able to affored it much longer. (at least in Cali.)

Answer 8

Not unless you live in Las Vegas or certain areas of Cali.

Answer 9

NOPE. houses will go up and subsequently interest rates on mortgages will go up as well. all in a vain effort to stimulate the economy.

Answer 10

No I don't see that happening. Just like gas prices, they keep going up.