Have we hit bottom in the housing slump???

Question

if not, how much more will it go, and what areas?

Answer 1

The average pendulum downswing is 3-7 yrs and then it takes that many years to work its way back up. When will we get smart and have better regulations in the real estate market?

Answer 2

We won’t know when the bottom is until prices start rising, and no one knows when that will be. Basically, we won’t know we’ve hit bottom until the moment is past. There’s no magic number that indicates bottom, and it can’t be predicted.

Answer 3

no not yet.  We have until at least May of next year to go.  

Answer 4

Varies by area.  Some areas are fairly strong (some Seattle neighborhoods, for example); some will probably be in the tank for years (e.g. Detroit).

Answer 5

They  are  figuring  the  bad  loans  will  finish  unwinding  by  2011  and  are  still  not  sure  about  the  unsold  inventory  in  new  subdivisions .   ( California  and  Florida )

Remember ,   much  of  the  price  drive  up else  where  was  from  Californians  selling  their  homes  at   high  prices  and  relocating .

They  are  NOT  doing  that  anymore  !

Some  are  sell - able   but  others  are  going  to  the  dogs  from  neglect  and  may  have  to  be  scrapped .

Tack  on  about  2  years  for  that  inventory  to  play  out .

>

Answer 6

Opinions are varied, but most analysts expect another 9 to 12 months of softening markets before we hit bottom.  How low it goes is anybody's guess and the pain will be spread pretty much across the country, although some places (those that rely on investment properties) may still be hit harder then others.

Answer 7

The market is bottoming in the Midwest, Southeast and Guam. All other areas need a 15% correction.

Answer 8

no

1 yr more

all areas,,,,,,it took 5+ yrs to get here.