2006-10-05 20:29:12 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
They went up a long way, so they could do the same on the downside, Right now there is a glut of homes for sale. PS... Expect the same thing from Gold.
2006-10-05 20:34:31 · answer #1 · answered by The professor 4 · 1⤊ 0⤋
In many areas home prices have already dropped substantially especially in places like Phoenix and Florida. I think future changes in home pricing are dependant on what the interest rate does. It has actually been going down slightly for the past month but is still nowhere near what they were a year ago.
2006-10-06 03:44:11 · answer #2 · answered by Meadowlark 2 · 1⤊ 0⤋
Probably they will. The only people who gain from raising property values are Real Estate Brokers and the Property Tax Collector. Big Real Estate Boom, Big property tax. Mine has gon up 800 dollars in the last 2 years. Of course my property is worth more, but so is everyong elses. Doesn't do me a bit of good.
2006-10-06 03:40:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It depends where you live. For example, don't expect much change in Florida. But in Ohio, prices of existing homes have dropped sharply.
2006-10-06 03:37:23 · answer #4 · answered by ginger13 4 · 0⤊ 1⤋
nope -- there are some markets that are expected to drop san fran, miami, etc -- but more than likely the dollar will deflate more than home prices.
2006-10-06 03:37:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
in many places yes, such as places where they shot up recently, but rents didn't follow. (Phoenix,Miami, Los Angeles, San Diego) in other places, such as the midwest, probably not.
2006-10-06 05:55:40 · answer #6 · answered by Stanley 3 · 0⤊ 1⤋