Some real estate experts say that this slowdown can last for more than 4 years. And the problem is that nobody knows when we hit the bottom of it. Somebody can claim that housing market has already reached its lowest point but the situation at FSBO market isn’t improving.
The only thing everyone agrees is that the housing market will not start recovering until people have an opportunity to obtain mortgages and loans more easily. At present most lenders don’t want to give credits and only potential borrowers with an excellent credit score are able to obtain it.
Every day we have more and more houses for sale on the market and fewer and fewer people can afford to buy those houses than ever before.