When do you think home values will go up?

Question

I lost about 40,000 equity in my home this past year. I owe more on my mortgage than my house is worth. When do you think home values will go up?

Answer 1

Nobody knows for certain. If they do ,they'll be billionaire real estate tycoons. However, one rule of the thumb is when the price of renting properties exceeds or is close to the the price of a monthly mortgage of similar properties. I'm not an expert on this matter, I just read it but it makes sense to me!!

Answer 2

if you think about it there actuly comeing down to there proper price its just some people got swindled when they first got one

Answer 3

2-5 years.

Answer 4

Depends on area.  Overall they'll probably start going up in about 1-2 years and will go up in general past then.  However, they will only go up maybe 4 percent a year give or take.  

A house is not an investment like a stock.  You're investing in a place to live.  If you can still afford the payments and plan on staying there don't worry about it.  

Simple thing to remember - if houses kept beating inflation and wage increases no one would be able to afford them.  Therefore, this doesn't happen long term.

Answer 5

This also depends on where you are located most areas of the United states will be effected for atleast 5 years the worest is yet to come, another 24 months before we even see the very low of this. It is a buyers market. Thats why i am choosing to invest now.  Wait and your home will regain value slowly.

Answer 6

It depends where you're located. We're already seeing some turnaround in our local market but we were declining while the rest of the country was still hot.

Answer 7

Housing values will return to and exceed 2005 levels within the next 7 to 10 years (the next bubble). It's been on a 7 to 10 year cycle since about the 1950s. Some places that are overbuilt (like Vegas and Phoenix) may take longer to come back up. But, they will eventually.

The problem right now is that there is a huge inventory of houses on the market, both from foreclosures and short sales, and from overbuilding. Once this inventory gets sold off, the housing market will return to normal and begin a slow increase. Expect this by the middle of 2009 at the earliest and 2010 at the latest.