Where's the bottom?
Today's News from the Florida Association of Realtors has us wondering just where the housing market is heading.
The release stated: "Like a mirage in the desert, the bottom of the housing slump seems to fade in and out of sight as the year progresses. Home sales jump, and there – you think you can make it out in the distance. Home sales fall, and it’s lost in the haze.
“There’s a lot of competition trying to figure out when things are going to bottom,” says Morningstar (MORN) analyst Eric Landry. “But it’s unlikely that you’re going to figure that out before any one else does.”
“Write it off: ‘07 is going to be a bad year,” Landry says. “It [the housing bottom] could be a 2008 event, it could be a 2009 event.”
Say it isn't so!!
The release stated: "Like a mirage in the desert, the bottom of the housing slump seems to fade in and out of sight as the year progresses. Home sales jump, and there – you think you can make it out in the distance. Home sales fall, and it’s lost in the haze.
“There’s a lot of competition trying to figure out when things are going to bottom,” says Morningstar (MORN) analyst Eric Landry. “But it’s unlikely that you’re going to figure that out before any one else does.”
“Write it off: ‘07 is going to be a bad year,” Landry says. “It [the housing bottom] could be a 2008 event, it could be a 2009 event.”
Say it isn't so!!
Labels: Bradenton Real Estate, Market Conditions
posted by Dan Forbes at
2:28 PM
1 Comments:
There is too much inventory for the market to hit bottom any time soon. Sellers will need to realize that they will not sell their properties until they reduce their prices substantially. The combination of high prices, high taxes and high insurance makes Florida an unattractive investment for those of us who do not live in Florida.
By
Mike, At
9:43 PM
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