Realtors Forecast First Home Price Decline CNNMoney.com - Home prices are expected to finish down for the year, the National Association of Realtors said Tuesday, which would mark the first drop since the group started tracking values in 1968. http://biz.yahoo.com/cnnm/070508/050807_home_prices_to_dip.html?.v=4
This doesn't get reported, but if you factor in the increase in living area of the average house over the years, the average price has fallen before. PS. Didn't they say that the market had "bottomed" last month?
and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, and the month before, ...
they aren't making any more land you can't live in your stock certificate everyone wants to live in florida because of the weather housing prices will continue to increase as long as the employment rate is low. people are emotionally attached to homes and will not sell easily immigration will fuel ever-increasing demand people will always need a place to live sellers don't panic and lower prices, because they can just wait it out there are no margin calls with housing you can always rent it out! mortgage interest deduction makes housing an attractive investment etc.
If the realtors are forecasting something bad you can bet it is much worse than they are forecasting.