“articles like these make me think the bottom may not be far away . . . or worse may have already passed.”
I don’t get this, how can the bottom have passed when there is a glut of inventory and a credit crunch for those who otherwise would be buying these overpriced homes?
A lot of inventory + more inventory from foreclosures + no buyers….it would seem would equal lower prices.
Like any supply and demand.
Those who are holding the properties carry all the liablities and ownership costs, so it’s in their interest to rid themselves, but if there are no buyers, then an incentive would be to lower prices even more.
