Market Conditions in 48433>Question Details

Michele Blair, Real Estate Pro in 48433

When do you expect values to increase?

Asked by Michele Blair, 48433 Tue Nov 8, 2011

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10
well............I expect values to increase around the time I can get back into my size 8 jeans........so if I want that to happen, I better put down the chocolate ice cream!

Seriously - who knows!
Until the economy stabilizes and people have confidence in our government and jobs are created and health insurance stops increasing........... etc, etc.......we will be on thin ice............oh, and it wouldn't hurt if the rest of the global economy stopped imploding, too.
2 votes Thank Flag Link Tue Nov 8, 2011
Warren Buffett came out today and said our housing market is in a depression. They have rates at lowest in history and the market still falls. We have 6M homeowners under water just waiting for the chance to get out. Many are throwing in the towel and accepting it makes no sense to continue paying in to a black hole. The federal reserve says they will keep record low interest rates until at least mid 2013. Essentially what every one is asserting through their actions is housing is still deflating. It will be a long time before that trend reverses because the govt is constantly trying to prop it up, if they would just let the bottom fall out people like me would buy homes in bulk at the bottom which would push demand up and the valuations would start appreciating and we could rinse the economy of the housing perils. But the govt gives "tax credits", Freddie and Fannie support and all the other nonsense which makes it continue to slowly bleed quarter after quarter. There is more housing deflation to come.
1 vote Thank Flag Link Mon Nov 14, 2011
Hysterical Debbie! Same for me and a size 32 jean!
1 vote Thank Flag Link Tue Nov 8, 2011
Remember History;
we didn't crawl out of the last "big one" until there was a push, a catalyst; a WAR.

We are already seeing some good signs; a lot of people are moving around, taking advantage of the good buys and investing.

Take an area like Pheonix; one of the hardest hit areas of the Country. We are seeing a lot of QUESTIONS from people moving down to Phoenix, buying the cheap houses; which is just what they need! They couldn't possibly recover without outside investment.
Florida too. And Las Vegas.
At one time, I though Fresno was in the worst shape of any city in the Country; far from it.

We have a lot going on, including next years Election.
Remember all the PEP songs we heard in the 30's and 40's?
We need that SPIRIT now.
0 votes Thank Flag Link Mon Nov 14, 2011
Many thought we would see it already starting to happen by now. As we know this is a very local question and it will vary from place to place. We will see things start to stabilize and get better as a whole when the jobs are here and doing much better.
0 votes Thank Flag Link Mon Nov 14, 2011
Are you just asking for Flushing, Michele? We saw some nice increases this year in Birmingham and surrounds.
0 votes Thank Flag Link Sun Nov 13, 2011
Maureen Fran…, Real Estate Pro in Birmingham, MI
MVP'08
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They will NEVER. People are not taking in the demographics of the area and the United States into account. There were 38 million people that were born between 1945 and 1955, the baby boomers. These people are now retiring and will be selling their homes for medical expenses or rest homes. Between 1955 and 1965 there were 68 million born. In the next ten years they will be retiring and selling homes for medical expenses. Families then were having four to six children per family. After 1965 the birth rate dropped to 1.8 children per family. Over the next 30 years 106 million people will be passing away. That is 1/3 of the US population of 308 million. SO WHO IS GOING TO BUY YOUR HOUSE?
0 votes Thank Flag Link Sat Nov 12, 2011
Michele,

To many people are focusing on the market...past, present, and future.. at the expense of missing out on their own personal needs.

As RE professionals, we should be reacquainting the public with the fact that "the market is what it is" and that people should get along with their lives and their real estate needs.

Time to move on......

Bill
0 votes Thank Flag Link Wed Nov 9, 2011
Well, here's to both of us achieving our goals, Allan..... (for the sake of the country) !!!
0 votes Thank Flag Link Tue Nov 8, 2011
In my area they are saying about 15 years! If your buying plan on staying a while! Thanks for the question Michele.
0 votes Thank Flag Link Tue Nov 8, 2011
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