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SpiceGirl
Dream big
Member since 1/06 2486 total posts
Name:
j
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LI housing market
I know LI isn't getting hit as hard as other parts of the country (CA, FL, MI), but house prices seem to keep dropping.
When do you think it will start to level off? Do you think home prices will continue to drop to the point where the prices are back to where they used to be prior to the 'boom'?
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Posted 9/14/08 3:06 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: LI housing market
it totally depends on the town/sd, however I dont think we will ever see pre-boom prices - too many people bought in the boom and wont sell at a loss and will hold on to houses longer.
Once the credit mess is cleaned up, prices will stabilize and increase at a normal pace. I am thinking this winter we are going to see the lowest prices in general and if banks are solid and the economy turns (figuring after getting GWB out of the white house consumer confidence will go up), spring 09 will bring stability/small price increases.
but who knows
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| Posted 9/14/08 3:12 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: LI housing market
I am hoping meaghan is right!
I was reading Q3 2009 for a long time, but the mortgage crisis has pushed it to Q1 2010
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| Posted 9/14/08 3:55 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: LI housing market
Posted by Erica
I was reading Q3 2009 for a long time, but the mortgage crisis has pushed it to Q1 2010
it's going to be a while
I hope by 2010
it's really bad in other parts of the country- but you still have ALOT of bad loans to wash out of the system
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| Posted 9/14/08 6:00 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: LI housing market
there's still some play in the market. Another 9-12 months most likely.
Having said that, you won't see prices dropping more than 3-5% here on LI in most towns.
LI is still one of the most desirable places to live. Go figure.
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| Posted 9/14/08 7:16 PM |
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