Let's Debate Housing - Is it Time to Buy?
Over the past week, Wall Street Greek has bombarded its readers with housing articles debating the topic of real estate, and whether we've finally reached the floor or not. Authors Kaminis and Douville have published the following articles:
At the same time, pundits like Kudlow and Cramer have been loudly pronouncing that the bottom has arrived. But, we want to know what YOU think. Please comment below this article, or if you are viewing this at a location away from the site, please visit Wall Street Greek and comment to this specific article, "Let's Debate Housing - Is it Time to Buy?"
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posted by The Greek | 3:03 PM
2 Comments:
The bubble in quality real estate is about over. The sub prime mess which happened in areas where you would not want to live will not be over soon.
They won't give loans easily in those areas soon.
Good quality real estate will appreciate because the competition and price for material from lumber, gas and Hamburger Helper will never be this low again.
Investors waiting for the "bottom" will jump off the fence in 8 months when the int rates start to go up.
EMK, home builder.
It appears that the real estate market is finally coming to the bottom in our market in central Ohio. We have seen more activity this year (2008) than we have collectively in 2005-2006-2007. Telephone calls, offers, bids are starting to get active again. People are putting lots and houses into contract. We are seeing people feeling good about the drop in prices and they are beginning to come out and do something about it.
When the masses acknowledge the bottom, it will be too late and prices will already have gone up. We have also witnessed a 22% increase in sales in the north Florida panhandle.
I think we are slowly making our way back to some type of balance. It is not going to happen all at once, but I believe the wheels are starting to turn.
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