I'd like to post another follow up to my original post about the pending second fall of the housing market. Just as I stated here, the housing market *has* fallen and will yet continue to fall over the next 3 to 6 months before starting to improve. This is a direct result of the housing credit that ended in April.
I'm not the only one calling for this. http://www.msnbc.msn.com/id/37867779/ns/business-real_estate/. Now that there is nobody in the housing market, since they all already purchased to take advantage of the housing credit, the housing market will continue to fall and prices will get better than ever.
One of the houses we were looking at buying has sold, I don't know the amount, but the second, smaller house continues to sit on the market, unsold, and now with a price tag $5,000 smaller. $5,000 is a really big deal on a home this size and at this price.
We will continue to watch and wait for some decent signs of recovery before we choose to buy. We're thinking 6 months to a year should give themarket some time to recover and start the steady trend upwards. We'll buy then.
Do you agree with me? Post your comments.
3 years ago