5%, 10%, 20%
What do we know?
We do know that Foreclosure Inventory Volume is outpacing Foreclosure Sales.
We know that Foreclosure Sales make up approximately one-third of all home purchases.
We also know that Distressed Properties sell at a discount, which lower property values in those neighborhoods.
Obviously unemployment has a HUGE impact; a market with higher unemployment will perform worse than a market with low unemployment.
When the "so-called experts", most who are self-proclaimed experts tell you that we have 5% or 10% left on the downside or that we are at the bottom...my question is "How do they know?"
Based on what we know...where do you think home prices are headed?