Peak House Prices Will Return to Sand States after 2025: Fiserv « HousingWire
JMO:
GOOD NEWS: This article (link above) indicates that there should only be a 7% additional decline in home values for 2010, versus the 20-25% additional decline that has been mentioned in the past.
BAD NEW: Case-Shiller believes that the hardest hit states will take 15 years to recover.
MY OPINION: Because the "sand states" are some of the more desirable states to live in, my belief is that as other states recover (as quickly as 2013), homeowners will take their new found equity and begin to migrate to these other states attempting to take advantage of low home prices. Just as in the past, this demand will cause home prices to rise again and could very quickly cause a turnaround in the "sand states" in 3-5 years instead of 15 years.
Tuesday, April 13, 2010
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