And it also depends on short-term or long-term.
Overall, long-term I'm bullish. Short-term I'm bearish.
It also depends on the market niche. I'm bearish on high-priced luxury places. I'm relatively bullish on medium-priced homes.
It also obviously depends on the geographic area. For instance, in the D.C. area I'm bullish on homes inside the Beltway--that's 10-15 miles out from D.C. I'm less bullish on homes 30-45 miles out.
Basically--to answer your "why"--I'm bullish on properties for which there's a comparatively strong demand now and in the future. I'm bearish on properties for which there isn't much demand.
Hope that helps.
BULLI, BULL and BULLISH for long term!! I believe real estate in the right location at the right price is the best investment in the world:
Scott Miller, Realty Associates, Boca Raton, FL