up, down or sideways

The national marketplace is still very challenged. In a recent Economist magazine report  the price drop now is greater than in the 1930 depression, yes greater than the depression. A sobering statistic indeed.

This makes the 1980 and 1990 markets look like a dream. Some places are seeing very fast decreases in the marketplace as lenders take back properties and slash the prices to get them off the books.

One segment of the market that is not afraid to buy is foreigners. As with the stock market for every seller there is a buyer who perceives the purchase to be a good deal.

The buyers are getting great deals and in many instances are purchasing for less than replacement cost.

Prices are back to 2003 levels which gives everyone that did not get in, another chance. The heard instinc does make this a difficult path the follow but usually proves to be great long term decision.