when do you think the real estate market will pick up again?

Just curious what people's thoughts (or what they've read from analysts / experts) regarding the real estate market. We *just* bought so we've got no intention of moving anytime soon - just curious what people think about the market.

Re: when do you think the real estate market will pick up again?

I think we will have at least 12-18 months of a slowdown and then it will level off and maybe pick up again.

Can you tell how cautious I am about this?

Re: when do you think the real estate market will pick up again?

I read yesterday not till 2010

on MSNBC

Re: when do you think the real estate market will pick up again?

I heard sometime in '09...it's going to be a while

Re: when do you think the real estate market will pick up again?

I say a few more years. The market always goes in cycles. Its down for awhile and up for awhile. It also depends on what the government does with interest rates. If they go up way high like in the 80's it may be on the downside for awhile.

Re: when do you think the real estate market will pick up again?

I think it totally depends and that certain areas will feel it more.

I know that it upset me when the morning I went to close -- Mad Money guy was screaming not to buy a house until June of 08.

For us, we got a good deal so I feel like even if the appraisal goes down for the short term --- it will be ok in the long term.

In my area, I think the smaller houses, with smaller plots and less "amenities" will suffer the most -- so you could get a great deal there whereas a year ago when I first started looking people were crazy for their asking prices.

I think also that there are a lot of people who are going out trying to get houses and finding the mortgage process too daunting. That will hurt it too.

I think it's a great time to buy a multi family and rent it.

Re: when do you think the real estate market will pick up again?

I read an article stating specifically for nassau/suffolk saying first quarter of 09 is when it will hit bottom about 12% decrease from high of early 07. I agree that what happens with interest rates will have a big impact on what happens with prices. If rates go way up prices will have to go way down. I think rates will probably remain somewhat level and prices will continue to drop.

Re: when do you think the real estate market will pick up again?

Re: when do you think the real estate market will pick up again?

Posted by MrsProfessor

Posted by leese


I know that it upset me when the morning I went to close -- Mad Money guy was screaming not to buy a house until June of 08.

If it makes you feel any better, my DH read an article about Jim Cramer and they said that he's wrong pretty often.

I think it's a good time to buy if you don't have something to sell (which is my situation ). I also believe what people say about a home being a place to live, as opposed to it being a money maker. Anyone who is planning to stay put for a while doesn't have to stress too much, IMO. (Except for those who got in over their heads, but that's another post.)