Quote:
Originally Posted by Jesus H Christ
Well, you also need to factor in the millions of empty homes already across the housing market with more in the near future. The housing-market is not going to collapse because the government is floating us down but it will hit rock bottom. WTS, you are correct it is a buyers market.
BUT I highly doubt you'll see the "massive buying and selling" for decades to come.  |
Yep, there are a lot of empty houses out there right now and more on the way. I think we have at least 2 more years of big foreclosures then things in that area will slow down. But that will drive prices of homes down even more. Once it bottoms out people will buy again, but it will be at the lower prices which could further drive down the value of some homes.
I agree that we will likely not see a massive buying and selling period for a long time. I don't know if it will be decades, but it could take several years just for many home owners to not be upside down in their houses.