Home Prices Seem Far From Bottom – NYTimes.com
by Tom on October 16, 2008
in Market Musings, house prices
The American housing market, where the global economic crisis began, is far from hitting bottom.
Home prices across much of the country are likely to fall through late 2009, economists say, and in some markets the trend could last even longer depending on the severity of the anticipated recession.
via Home Prices Seem Far From Bottom – NYTimes.com
A couple of thoughts about this article:
1. It talks about price to rent ratios and I think that’s a pretty good indication of where things are at. If any of my readers have statistics about the price to rent ratios in their “area,” I’d be happy to share them.
2. Real Estate, while following the same trends nationally, does follow them at different rates. I think that many areas in the Midwest that didn’t see the rapid house price increases also aren’t seeing as big of declines.
It’s maybe the 5th inning folks…..
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