Yes, this will probably motivate some fence sitters. And motivate some sellers to drop their prices. I think we will see some seasonal strength going into Spring. The steep declines in sales may ease. After all how much slower can sales get.
An ode to Spring …
The housing storm has passed. When you step outside it has cleared up … sunny … warmer. The sense of fear and desperation you had has passed. The howling winds have eased. It’s peaceful, you feel a sense of calm.
Then it hits. You realize that you are in the eye of hurricane.
Seriously I think the article will also motivate some homeowners to panic, come to grips that they are upside down and capitulate, causing a second wave of increased foreclosure activity next year.
