The truth is... No one knows. Our economy, the sub prime market, jobs etc all factor into this. There have been a few things done to stimulate the economy, help people who were in foreclosure, but they were really just a band aid being put on a gaping wound. Without getting into calculations, predictions by politicians and all that... Alot of people are still in dire straits.
There was a saying by Baron Rothschild a very long time ago that still stands true to anyone who has the means today:
" When there's blood on the streets... Buy property."
I don't know what side of the coin you are on Eustace, but if it's the right one give me a call. I Know the demographics of almost every neighborhood in Brooklyn, I was born here and have been in real estate for 15 years. Real estate still is the best investment you can make.
My direct line is (212) 300-3919
Good fortune my friend!
Prudential Douglas Elliman Real Estate
M: (212) 300-3919
D: (718) 935-6135
F: (917) 369-2690
325 Court Street, Brooklyn NY 11231