Housing Bubble Watch: Home Prices Decline For First Time In 11 Years

RE:Housing Bubble Watch: Home Prices Decline For First Time In 11 Years

Anonymous — Thu, 05 Oct 2006 11:00:00 GMT

The decline of home sale and price is really a natural phenomenon: What goes up must come down. Home prices have skyrocketed in the past 5 years to a point where it became inevitable for prices to come down with the decline of demand. People became reluctant to pay an arm and leg for a piece of real estate, and simply decided to postpone their investments due to the increased financial burden. Real estate investors and potential home buyers need not panic. The market will soon stabilize.

RE:Housing Bubble Watch: Home Prices Decline For First Time In 11 Years

Tom — Tue, 03 Oct 2006 11:00:00 GMT

It's not an easy call by anyone as to where housing prices are going to go. Out here in the Los Angeles area there is a lot of inventory, but lately it seems more homeowners are taking their houses off the market rather than discount them. Prices here have stabilized and you do see some discounting, but it's minimal.

RE:Housing Bubble Watch: Home Prices Decline For First Time In 11 Years

Anonymous — Wed, 27 Sep 2006 11:00:00 GMT

I am looking to buy a house(first time buyer), but postponed until next spring hoping prices will reduce by then. Though I keep hearing market slowdown, bubble bursting, increasing inventory etc, there is no significant change in home prices. In NE states (NY, VA, NJ, CT) prices shot up by more than 100% in the last 3 years. Inspite of the downturn I don't see the reduction of home prices, may be not more than 5% from peak price. I dont understand why we say prices declined just because of 2%.