2007-12-30 00:27:54 · 7 answers · asked by LongJohns 7 in Politics & Government ➔ Other - Politics & Government
It will fall until it gets back to the values generated by real demand by people who need somewhere to live.
Prices the last several years where artificially inflated by people caught up in the flipping fad, and mortgage companies deceiving the financially illiterate with confusing and borderline fraudulent ARM's.
2007-12-30 00:40:39 · answer #1 · answered by silverbullet 7 · 2⤊ 1⤋
I don't think that they will get to a point where housing becomes reasonable. Say between 5 to 10% on average, year over year. But that is not counting inflation, which runs about 5% or so as well.
2007-12-30 08:33:25 · answer #2 · answered by Dirk D 3 · 0⤊ 0⤋
it depends where you live I live in the hudson valley in upstate NY. and the market is still going up here. The subprime mess is not as bad as the media make it sound 96% of all loans have no problem.
2007-12-30 00:34:55 · answer #3 · answered by mikeb721 4 · 0⤊ 0⤋
I live in Southwestern PA. We never experience boom and bust cycles in real estate markets. Prices are reasonable and going up.
2007-12-30 00:36:27 · answer #4 · answered by regerugged 7 · 0⤊ 0⤋
To the point where all the youngsters on Yahoo Answers will be able to buy their own homes and see them paid off in ten years time.
2007-12-30 02:08:04 · answer #5 · answered by Anonymous · 0⤊ 1⤋
No matter how low it drops it wont be lowering the ratable value. house prices over the years went up. And rateable value went up. I bet it don`t come down eh.eh.
2007-12-31 07:15:00 · answer #6 · answered by mally 2 · 1⤊ 0⤋
May be another 5-10 percent.
2007-12-30 00:38:04 · answer #7 · answered by mozart8 3 · 1⤊ 1⤋