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Housing prices will bottom out in 2033, I know this is a old thread but this is a long term down turn. There will be a secondary peak around 2011 or 2012 before the next long term leg down.
2033???
Is that a typo or are you really predicting a 23 year downturn?
Is that a typo or are you really predicting a 23 year downturn?
perhaps we might never go back to the same place. make no mistake, the good times will be back but they will be very different. i think values, perspectives and success will change radically as people realise that the track we've been on was not all that.
I am sticking by my predictions for Florida though I may have been too optimistic for Chicago. He have not yet bottomed and it may be 2011 or 2012 before we see a bottom that may last a few years. Prices in Chicago in 2013 will most likely be lower than they were in 2008.
For Florida, the picture is even worse with tons of inventory still out there, particularly condos in south Florida. It will be 2020 before they see 2008 prices again.
perhaps we might never go back to the same place. make no mistake, the good times will be back but they will be very different. i think values, perspectives and success will change radically as people realise that the track we've been on was not all that.
Home prices will get back there eventually just due to inflation. I don't think housing will continue to lose value though for the next 23 years. At some point it will stop and normal inflation will kick in.
I don't define recovery as getting back to 2006 home prices. I define recovery as getting back to normal housing appreciation.
Home prices will get back there eventually just due to inflation. I don't think housing will continue to lose value though for the next 23 years. At some point it will stop and normal inflation will kick in.
I don't define recovery as getting back to 2006 home prices. I define recovery as getting back to normal housing appreciation.
I agree, homes will not continue to lose significant value but will fluctuate proportionately with employment/job growth, thus eventually stabilizing, real estate will begin to appreciate once more accordingly and the cycle repeats itself. I won't try to predict the timeline.
That is high on the optimistic side... I don't think I have seen 20-30% gains in two years time before when the average is much, MUCH less... the housing price corrected to its true value (and its not even there yet but its close!) and now this guy is going to think there will be a second housing boom? Hahahah... that's so funny... maybe a hurricane or two will get him closer to reality...
I'm curious about the housing market in FL and was wondering why it looks like everyone just ran out of town from places such as Cape Coral, while the market in places like Marco Island look a lot healthier.
The crime stats for Cape Coral are very good; better in Marco Island, but what's the story? Why the huge price differential?
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2 years later
