Tuesday, September 27, 2011
Housing Market Predictions
In a Fox Business article Thursday January 6, 2011, two top real estate experts gave a forecast of the real estate market for the years to come. One expert predicted not much help will come to the housing market until unemployment is solved. Another believed the market would increase slightly as the economy recovers but nothing too substantial. Many believed the housing market will recover though the time it will take is uncertain. There is a surplus of homes in some areas leading to the possibility of recovery but people have yet to buy them. People are afraid of the dropping prices affecting their purchase of their home. Overall the analysts believe the solution is lower mortgage rates and no foreclosure to help stimulate the housing market. Right now only select portions of the market are doing decent. The rest of the market is being killed by consumer fear and economic downturn. The housing market appears to have more of the same in its future but there is still a light at the end of the tunnel.