Housing Market Predictions

I just finished reading an interesting article in Yahoo news about the predictions of real estate for 2009.

Some of the key points that I noticed included:

• Home prices are down 20% nationwide since their peak in July 2006, according to the S&P/Case-Shiller home price index. Economist Nouriel Roubini of New York University, who accurately predicted the housing slide and credit crisis, expects another 20% decline in home prices next year. Patrick Newport of economic forecasting firm Global Insight projects a 15% drop.
• In 2010, real estate should be stronger, with fewer homes clogging the market.
• If you're looking to buy, Barry Miller, a buyer's agent in Denver, suggests you make your first offer as much as 13% below the seller's asking price. "You might not get the house for that, but it's a good starting point," he says.

If you wish to learn more, click on the link below. Many of us are already in a tough time, but this tough time looks to get worst before it gets better.

2009 Predictions