I have heard rumors that the price of houses is expected to decline by up to 20% within the next 12-18 months. Does anyone know if there is any validity to that and if so or if not can you site your source?
2007-07-03 17:45:35 · 5 answers · asked by it's me 5 in Business & Finance ➔ Renting & Real Estate
If anybody really knew this, we'd be all rich.
My personal opinion (based on investing in real estate) is that the prices almost stabilized. They may go down just a little more (not 20% of course) and then in about 2 year the prices will start going up again.
2007-07-03 18:47:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Let's see. . .the price of everything is going up but salaries are not. So all those people that could make their house payments, now cannot afford gas. They will buy the gas and lose their house. Why do people buy houses they can barely afford or with outrageous mortgage payments.? Things happen. So there will be houses on the market that people cannot afford to keep or buy. Too much supply, and little demand = prices go down. If you have cash it's a good time to look around for bargains.
2007-07-03 19:29:35 · answer #2 · answered by towanda 7 · 0⤊ 1⤋
Sorry, but my crystal ball is in the shop for its 10,000 prognostication service.
Some parts of the country are doing fine and will probably continue to do so. Others are on the slide and may bottom out soon while others may continue to slide for another couple of years in the worst cases.
Since you haven't even mentioned a market it's not possible to take even a wild stab at guessing. And in many cases, all it will be is a WAG.
2007-07-03 20:47:30 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I have not heard that. I know its a buyer's market right now. I can't see it lasting another 12-18 months though.
2007-07-03 17:53:25 · answer #4 · answered by jellybean 5 · 0⤊ 0⤋
i could say it truly is going to proceed to drop over those following couple of months- greater so interior the chillier area of the mountains, and stabilize by ability of say next april. by ability of that element i could anticipate the industry to someplace around 8-12% decrease then it truly is now. yet on the plus facet maximum area of utah didnt bypass up majorly over the previous few years , consequently it truly is not lots of a distinction over the subsequent couple of years in assessment to something of usa. the advent months are unlikely to be a sturdy industry- yet i dont see maximum areas of utah taking lots of a fulfillment on housing costs. while its all pronounced and carried out i think of there will be a turn around interior of approximately 30 months.
2016-10-19 02:05:30 · answer #5 · answered by ? 4 · 0⤊ 0⤋