How much further will they go?
2007-12-10 07:11:47 · 6 answers · asked by Realist 2 in Business & Finance ➔ Renting & Real Estate
It depends on where you are.
If you are in one of the areas that speculators really drove prices up, then they will continue to drop. If you are in an area that relied on sub-prime loans and has a lot of sub-prime loans, then yes, they'll continue to drop (think parts of CA, a lot of FL, Las Vegas, Phoenix, etc.).
If you are in Portland, Ore. or Charlotte, NC or many other areas in the country, then you will see price appreciation this year and next. Like everything in real estate, it's all local. Counter to everything you hear, there are healthy real estate markets out there!!
good luck!
2007-12-10 07:42:41 · answer #1 · answered by Rush is a band 7 · 1⤊ 0⤋
Yes.
The thought is 15% over the next 5 years. The issues with the loans is extending into other markets such as the auto loan industry. The cost of houses has increased dramitically more than the increase in rents.
2007-12-10 08:03:19 · answer #2 · answered by rutgersgroup 4 · 0⤊ 0⤋
It depends on your market.
I believe the Great Lakes regions, Florida and California will continue to see losses for another 18 months.
I see alot of gloom and doom on the news regarding the housing markets, but some markets are holding steady, some are seeing increases.
2007-12-10 09:00:18 · answer #3 · answered by godged 7 · 0⤊ 1⤋
i believe they will drop for the next 2 years the new mim wage will cause a mast inflation in the next 2 year then it will start property value's go up again to another high.
2007-12-10 08:54:14 · answer #4 · answered by Curtis R 4 · 1⤊ 0⤋
YES... at least another 10 percent or MORE over another one to 2 years.
2007-12-10 07:19:29 · answer #5 · answered by Anonymous · 2⤊ 0⤋
It's expected in most areas, from what I have read.
And some experts are still surprised .
2007-12-10 07:15:26 · answer #6 · answered by ed 7 · 1⤊ 0⤋