Housing will continue to collapse.

[Neubarth]

For the past two decades, Banks and Realtors have been selling Real Estate as an investment. Now, we know that "in a way" it is an investment, but the true nature of the beast is that it is a commodity. Like a commodity it can fluctuate in price. We are now seeing a downward fluctuation. I expect it to go on for five years or more.

Do not be deluded by the realtors. They refuse to count the houses sold at auction in their numbers of houses sold (technically because they were not sold by realtors). In so doing, they can claim that house prices are going up. Yippie!

Unfortunately, the reality is that they are still going down because of all of the foreclosures.

It will take years to clean up this mess. When the banks stop failing, house prices will start going up again.

 

[uscitizen]

Housing will continue to collapse

Darned liberal termites!

 

[william the wie]

When all forms of housing are included it will take until 2060 to grow into existing homes. Purportedly there are developed lots left over from the 1924-7 boom that have never been developed and that is true to some degree of every state east of the Mississippi despite Erik Estrada selling his little heart out on late night TV. Housing is not coming back anytime soon.

 

[blu]

when there is blood on the streets buy houses...

 

[Neubarth]

when there is blood on the streets buy houses...

Wait until the blood dries. You do not want to buy houses in areas where the blood is fresh.