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Message: US Housing Market Forecast

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gumby1116

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US Housing Market Forecast

posted on Nov 21, 09 05:58PM

Hi All,

Just sharing with you what I learned yesterday from a webinar I attended. The presenter, and economist from a Large Financial Institution stated:(and I paraphrase)

'We will continue to see a DECLINE in home values of 5-7% through mid 2010, and then a FLAT LINE until mid 2011, thereafter an INCREASE in home values by 3%'

Just when some people from the Obama Admin. are saying that we're in a recovery period, we hear a more realistic view of the housing market in the US. Here in Chicago, we've seen a decrease of approx. 10% since the beginning of 2009. The sand states (Arizona, Nevada, Florida) have seen decreases of up to 50%.

If anyone was looking to buy a home in the US, I would suggest to wait until mid 2010. I for one will be waiting for the 'fire sale'.

just by 2¢

gumby

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