Housing prices rose from 1996 to peak year 2006 a total of $144,700 or 62%; Housing prices rose from 1996 - 2008 a total of $103,900 or 42%; Housing prices "plunged" from peak year 2006 to date a total of $40,800 or 19%.
Not to belittle the real problems people who need to sell their houses are facing, the situation wasn't caused by Bush or a faltering economy. It was caused by greedy builders and developers over-building and causing a glut, so now supply needs to settle down to meet demand. Unless a house was purchased after 2004, a decent profit can still be made if it's offered at a pre-peak price. Others who don't have to sell right now are best advised to sit back and wait for the dust to settle.
No comments:
Post a Comment