OK, the housing market in the USA is in a major hurt. OK, sales prices continue to spiral down. OK, the government is stepping in to assist homeowners who are staring foreclosure in the eye. OK, new home starts are down.
The decline of the market is something that is reality!
Why aren't buyers buying? The values appear to be there. Interest rates are good. Blame it on the economy? Unemployment is up but not in statistically significant numbers.
Most that I talk to think that buyers are waiting for the market to bottom. I tend to agree with that analysis.
Question - when it bottoms where will it be. Some predict the 2006 prices. Others predict 2004. Some predict even earlier.
Here is your chance gurus of real estate. When the market bottoms, at which year's prices will it be. Let me be the first to make a prediction - 2004.