Ways to get out of the housing mess...

For all the articles that I read on a daily basis about the housing market, this one is a great! It gives some great advice on how we can fix this mess and get back to a normal housing market.

The lowlight in the article is it will take all of 2009 before we start to see a bottom in the Real Estate prices and bring homes back to a normal level, if we do what he suggest.

My personal opinion is that it will take at least that long before we start to see homes to go up in value on a national level.

The only that is for sure is this, it’s a buyers market out there!!!!!

Click this link for the article.
http://www.marketwatch.com/news/story/housing-remedies-how-steer-clear/story.aspx?guid=%7BA7F42B47%2D20BF%2D4723%2D8309%2DDD1CD5748F46%7D

More people thinking about moving to the city?

This article by the International Herald Tribune written by Peter Gordon, talks about how more and more Americans are thinking about moving back in to Urban cities. I always wondered how long the so-called suburban American dream will last. In MN the past few years, I’ve seen more and more people move to bigger lots and bigger houses farther away from the city. I have always been under the idea, which this can’t last.

Well now we are facing high gas prices and energy prices, these homes are starting to fall in value faster.

“In Atlanta, Philadelphia, San Francisco and Minneapolis, homes beyond the urban core have been falling in value faster than those within, according to analysis by Moody's Economy.com.”

http://www.iht.com/articles/2008/06/24/business/exurbs.php

The moral of this post is to think about all the factors that surround buying a home. Think about the school system, your time and where you work. Don’t think about how much money YOU MIGHT make in the future, because you never know what the future holds!!!

Will we ever hit bottom?

More doom and gloom news from the Real Estate sector. An article today on Market Watch shows that home prices are going down still.

“Home prices surged in 2003 through 2006, climbing by a cumulative 52%, according to Case-Shiller. Since then, however, the housing and credit bubbles have burst and homeowners have given up half of their gains from earlier in the decade.”

” Here's the city-by-city breakdown in the Case-Shiller index:
Las Vegas, down 26.8% in the past year; Miami, down 26.7%; Phoenix, down 25%; Los Angeles, down 23.1%; San Diego, down 22.4%; San Francisco, down 22.1%; Tampa, down 20.4%; Detroit, down 18%; Minneapolis, down 15.5%; Washington, down 14.8%; Chicago, down 9.3%; New York, down 8.4%; Atlanta, down 7.5%; Cleveland, down 6.8%; Boston, down 6.4%; Seattle, down 4.9%; Denver and Portland, both down 4.7%; Dallas, down 3.4%; and Charlotte, down 0.1%. “

http://www.marketwatch.com/news/story/four-years-home-price-gains-wiped/story.aspx?guid=%7BEB1B0595%2D37FA%2D4542%2D88A2%2DCE470ACAF101%7D

Well it looks like we still have a way to go before we see some sort of bottom in this crazy Real Estate market.