dex
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Oct 28, 2003
- Messages
- 5,105
A couple of thoughts:
First the cost of houses will come down but not as significatly as they went up. If a house went up 100% over a period of time I doubt it will fall by 50% or back to the original purchase price. So what size adjustment is price are we talking about here? The major change is or will be in seller's expectations - from one of making a large amount of money to breaking even (taking into account sales commission and other costs). Expectations will be taking a large hit.
As a buyer - apx 6 months or more away - and RE this is all great news.
First the cost of houses will come down but not as significatly as they went up. If a house went up 100% over a period of time I doubt it will fall by 50% or back to the original purchase price. So what size adjustment is price are we talking about here? The major change is or will be in seller's expectations - from one of making a large amount of money to breaking even (taking into account sales commission and other costs). Expectations will be taking a large hit.
As a buyer - apx 6 months or more away - and RE this is all great news.