I heard on the radio today that Moody's expects housing prices to continue to fall until 2009. Ouch! My wife and I are planning to move in a few months, maybe we'll rent for a few months before buying.
There will be always be movement and surges one way or the other but in real dollars (adjusted for inflation), I don't think we are in for a "recovery" in the sense that actual wealth valuation will begin climbing again over a long period of time unless we fix the structural economic problems facing the country (Exception: the devaluing dollar does make property in the USA look like a bargain with less overall risk than Mexico for foreign investors).
There will be always be movement and surges one way or the other but in real dollars (adjusted for inflation), I don't think we are in for a "recovery" in the sense that actual wealth valuation will begin climbing again over a long period of time unless we fix the structural economic problems facing the country (Exception: the devaluing dollar does make property in the USA look like a bargain with less overall risk than Mexico for foreign investors).
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