Saw this article on Inman News, says prices are forecasted to drop 18%, I have been hearing and thinking myself about 10%, let me know your thoughts on this.

http://www.inman.com/hstory.aspx?ID=64928

 
Posted by Jason Thoele on 10/17/2007 11:11 AM   Comments (1)  

1 Comments on Bankers expect 18% decline in mortgage originations in '08

OCT
22
2007
 I've been seeing declines of 5-10% depending on the neighborhood here in Bakersfield. The south really seems to have the biggest declines along with the high-end market. With the largest number of resents coming up this month and next, the beginning of the year will be very interesting for the foreclosure market. Hopefully, this won't drag prices down any faster although they are sure to negatively affect the overall market.
6:10pm • #1

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Jason Thoele

Bakersfield, CA

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Watson Touchstone Real Estate Group

Address: PO Box 22202, Bakersfield, CA, 93390

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