[blakesq]

any guesses on when the housing market will pick up again? My guess is the market will start picking up after(if) we get a new president in office, so we are looking at spring and summer of 2013 at the earliest.

[SVTJayC]

It will probably never reach 2008 levels unless it's purely via inflation. Interest rates can't get any lower, and will likely head up when the economy picks up. Which will force prices even lower.

[mlassoff]

Originally Posted by blakesq

any guesses on when the housing market will pick up again? My guess is the market will start picking up after(if) we get a new president in office, so we are looking at spring and summer of 2013 at the earliest.

Do you truly believe this?

It seems like the only purpose of this thread is to start another partisan Obama bash-a-thon.

Suggestion: Move the the politics section. The loon-fest there loves this kind of unsubstantitive "discussion"

[nep321]

I'm really hoping that house prices continue to decline in CT. They haven't declined enough for first-time young, single homebuyers such as myself. Starter homes are still too expensive for people like me who don't earn a lot of income. I also hope interest rates continue to decline. I can't even imagine home prices being higher than what they are now. If they do happen to start rising, I'm basically screwed for life, unless my income would be able to keep up with rising home values.

[blakesq]

Don't be so defensive.

When do YOU think the market will pick up again in Connecticut? Just trying to see what others think, not trying to start a political flame war.

Originally Posted by mlassoff

Do you truly believe this?

It seems like the only purpose of this thread is to start another partisan Obama bash-a-thon.

Suggestion: Move the the politics section. The loon-fest there loves this kind of unsubstantitive "discussion"

[blakesq]

Well, you can alway move to somewhere where housing prices are much lower, Florida or Texas come to mind.

Originally Posted by nep321

I'm really hoping that house prices continue to decline in CT. They haven't declined enough for first-time young, single homebuyers such as myself. Starter homes are still too expensive for people like me who don't earn a lot of income. I also hope interest rates continue to decline. I can't even imagine home prices being higher than what they are now. If they do happen to start rising, I'm basically screwed for life, unless my income would be able to keep up with rising home values.

[skel1977]

Im estimating in about 10-12 years

[nep321]

Originally Posted by blakesq

Well, you can alway move to somewhere where housing prices are much lower, Florida or Texas come to mind.

We'll see what happens. If CT does become prohibitively expensive one day, then yes, it is in my best interest to move out of state. I'm probably going to give it another year or two or three and see what happens income wise and real estate wise.

On the political side of things, my father, who is a bigtime real estate investor in CT and other states believes that Obama will be defeated in 2012, and this will cause stocks to surge and the housing market to begin true recovery. My father watches FOX News all the time, listens to Rush Limbaugh and lives in a huge house in the country with an SUV, big family, dogs and chickens. They are Christian and Republican and think that Obama is the worst president ever.

[UconnHusky1]

Originally Posted by nep321

We'll see what happens. If CT does become prohibitively expensive one day, then yes, it is in my best interest to move out of state. I'm probably going to give it another year or two or three and see what happens income wise and real estate wise.

On the political side of things, my father, who is a bigtime real estate investor in CT and other states believes that Obama will be defeated in 2012, and this will cause stocks to surge and the housing market to begin true recovery. My father watches FOX News all the time, listens to Rush Limbaugh and lives in a huge house in the country with an SUV, big family, dogs and chickens. They are Christian and Republican and think that Obama is the worst president ever.

Your "bigtime real estate investor" father who lives in a huge house can't lend you money for a mortgage down payment?

[jjinla]

I'm a die-hard Republican, too, but even I don't think that Obama will be defeated in 2012 unless the GOP puts forth a real candidate. There, my contribution to the anticipated political debate.

Prices will drop if and when inventory rises (which can happen if financing costs rise, unemployment rises, etc.). Places in lower FF will never be accessible to most people, though, just as places in prime So Cal never dropped much in the past few years. People will always choose those areas over areas less desireable to a point, moderating any substantial drops.

Now of course, since the Jumbo limit was just reduced, and Obama wants to at the same time reduce the mortgage deduction for families making over $250K, it's anyone's guess. If it causes the $1M+ market to drop, everything under it will drop accordingly, too (but then again, rents will also rise since owning just became more expensive).