Home Buying in 10306>Question Details

Joeyoung, Home Buyer in 10306

will real state prices go up?

Asked by Joeyoung, 10306 Thu Sep 8, 2011

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6
Those who have knowledge, don't predict. Those who predict, don't have knowledge.
Web Reference: http://www.clovelake.com
0 votes Thank Flag Link Sat Sep 10, 2011
Hi Joey,



I have been licensed since 1983. I have sold Real Estate in many down markets and many hot markets. History has proven that the market and prices usually rebound.. We just don't know how long this market will be lingering at the status it is now. The real estate market is based on so many variables,I don't think anyone can predict if and when the market will increase.

This is definitely a market of great opportunity for buyers. Rates are very low & there is a abundance of a supply.
0 votes Thank Flag Link Thu Sep 8, 2011
In the History of Real Estate; there has never been an extended period where the prices went down.

Next year is an Election Year.
Look for other signs;
People will look for things to be optimistic about.


Good luck and may God bless
0 votes Thank Flag Link Thu Sep 8, 2011
What goes up must come down. The same applies in reverse in the real estate market. What goes down must go up. In this case, the up part might take several years. There are lots of factors when determining when the housing market will go back up. Job growth is one of them. Foreclosure of properties must come down, the economy must get better etc.... When there is a high demand for buying a home thats when the prices go up. When everybody is trying to sell and there is no real demand to buy a house, thats when the prices go down.
0 votes Thank Flag Link Thu Sep 8, 2011
Hey Joe,

That's the $64,000 question! Real estate market is cyclical. Prices may come down further in the short run, but will eventually go up. US population is growing, and demand for housing in urban areas, such as NYC will continue to drive up demand.
Web Reference: http://www.718forsale.com
0 votes Thank Flag Link Thu Sep 8, 2011
Yes, but when?///////////////////////////////
0 votes Thank Flag Link Thu Sep 8, 2011
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