Just seeing if any one has heard any new news on the housing market? I am hoping for sales to rise again!
2007-08-15 11:03:13 · 3 answers · asked by marci f 1 in Business & Finance ➔ Renting & Real Estate
Have to agree with BLue October as I have been saying for over 3 months this is just the beginning. Late pays and foreclosures have now hit not only the Alt-A market but the Prime, watch during the next 6 months it is going to get bad. Fed cannot lower the rate because inflation is not in check as of yet blame this on energy prices, what we have here is the brewing of the perfect storm inflation, yet possible credit crunch, along with a soon to be drop in consumer spending, myself see recession in the near future.
2007-08-15 11:34:32 · answer #1 · answered by Pengy 7 · 0⤊ 0⤋
Housing most likely won't bottom for another year.
Why?
Mortgage Resets are going to climb through the middle of next year.
Look at the mortgage resets for the subprime mortgage market next year.
Aug (07) 52 Billion Dollars
Sep 58
Oct 55
Nov 52
Dec 58
Jan (08) 80
Feb 88
Mar 110!!! WOW
Apr 92
May 72
June 75
July 50
2007-08-15 19:42:27 · answer #2 · answered by Terry S 5 · 0⤊ 0⤋
the housing market is not done diving yet.
yes, it will correct it self---but in 2 to 5 years.
will property values ever get as high as they once were? possibly, but my personal opinion is no--because the mortgage industry is now under a microscope from the federal government.
good luck :)
2007-08-15 18:12:49 · answer #3 · answered by Blue October 6 · 0⤊ 0⤋