mikeh58

Is Wells Fargo's Latest Memo a Sign Real Estate is Bottoming?

I see things as a potential buyer that I am here in East Tennessee as "nothing is going down near 10%" let alone more.Contractors must have thier heads in sand.
Just One Example: A contractor who had his newly built spec. house on the market with a minimal listing $ outfit for approx.3 months (a nice house priced $319,900 reduced from $339,?00) Just listed it with a full serv.broker $349K.
In this same area other contractors are also listing comprable new homes about the same $ and the turnover is abissmal.
Yet there are price reductions on existing homes.
what do the posters here think my chances of seeing
a 25% reduction are?