andyn

Are Home Prices Still Too High?

Agree with MauiJeff's comments.
Baby boomers actually will now start getting out of the houses that they have and trade down as that's the only real asset they have to keep them going in their golden years.
That means LOTS of second-hand home supply in the market going forward.
Stock prices have crashed to almost 2001 levels.
I dont see why house prices are still at 2005 levels.
So yes, there is a lot more to go... remember Japan's case of 70% decline.
Maybe the US is not as bad, but I can definitely down 50% from peaks.
So I agree, there is no need to rush into get a house on "bargain".