I'll attempt to collect real estate market predictions from "experts" around the country.
My accurate prediction: Some predictions will be right - some wrong - and some vaguely true.
My real prediction: Two forces will continue to apply downward pressure on home prices
(a) the 4-10 million current homeowners who are behind on their mortgages or severely underwater, and their subsequent foreclosures;
(b) the eventual future increase in interest rates (since they are artificially suppressed now) will need to be compensated by lower home prices.
3-6-2012: Headline and story - do they match? The article mentions Fitch says home prices expected to continue stabilizing? Where did they get that title from Fitch's predicted drops in housing prices in the article? Source: http://www.themreport.com/articles/home-prices-expected-to-continue-stabilizing-fitch-2012-03-05
2-26-2012: Commercial Real Estate Prediction - NAR paints a rosy picture, especially with multi-family properties. Source: http://dcrealestate.citybizlist.com/5/2012/2/25/NAR-Commercial-Real-Estate-Fundamentals-Improving-Across-the-Board.aspx
2-23-2012: A little doom and gloom for home prices - this article lo introduces the "real" mortgage rate combining interest rate and % drop in home prices. Source: http://www.reuters.com/article/2011/11/16/us-usa-housing-prices-idUSTRE7AF1Z820111116
2-22-2012: He raises good points (future inflation, building costs, rent level, etc - he failed to mention the historically low interest rates) but I wouldn't run to buy a house unless it's a place you want to live - for a number of years and it makes sense to your work life, lifestyle, and budget.
Source: http://seekingalpha.com/article/315237-now-s-the-time-to-get-back-into-real-estate
2-22-2012: Housing market showing signs of a turnaround? I wonder if the 10-15 year struggle in Japan started like this with good news, followed by bad news, followed by good...and so on...
Source: http://www.csmonitor.com/Business/2012/0222/Housing-market-showing-signs-of-turnaround
2-20-2012: Prediction # 2137=Housing Crisis ends in 2012 when lenders loosen mortgage qualification standards and when pigs fly! - Source: http://www.linkedin.com/news?actionBar=&articleID=5567733516482908167&ids=e3wOd3ASc3oVdzAVczASdzsRdiMRdjoRdPAScP0UcjAOc3oSdPkRb3cOdzkTe3kPdPkTe34Ue3gTdjkIejcMc3cQdPASd38Ud3cNdjsRdiMTdz4Uc3AOe3gScjkPcPsTdzkR&aag=true&freq=weekly&trk=eml-tod2-b-ttl-0&ut=0PYQecOZd0b581
There - the ugly truth is revealed.
Here's one prediction from Illyce GLink in 2011: http://blog.equifax.com/real-estate/housing-market-predictions-more-foreclosures-on-the-market/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
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