How does the melt down affect the real estate market? is it still a melt down?
Posted on April 2nd, 2010 in Renting & Real Estate | 2 Comments »
Mohit asked:
Real estate markets and stocks have had some beating in the last few months what all factors play a role, when can we expect some turnaround, or has it already happened?
for sale by owner???
Real estate markets and stocks have had some beating in the last few months what all factors play a role, when can we expect some turnaround, or has it already happened?
for sale by owner???
2 Responses
Healthy colon cleansing
The economy is in the biggest crash since the great depression of the 1930’s. The Dow Jones average has gone from a high of 14,000 to about 8,300. Housing prices have dropped 30% on average and a lot more in certain areas. It was all caused by over inflated home prices that caused defaults on mortgages. Now things have stabilized somewhat but there are still serious problems like high unemployment. When will things turn around?? No one knows but it sure hasn’t happened yet.
San Diego Foreclosures
The real estate market is acting unlike we have ever seen it. This means that it is hard for us to judge its future actions or take action against any future calamities. Buying up real estate is also a risky business. If you buy in the wrong area or the wrong type of property you will be stuck with a piece of property that is not going to turn a profit now, or maybe even ever.
The best way to anticipate what is going to happen in the housing market is to look at the job market. Where the jobs are, is where people’s money is, and where the money is is where you may be able to corner part of the housing market.