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Housing Data Says “Wait To Buy A Home!”

22 June 2010 3 Comments

The post-tax rebate housing data continues to disappoint, and it continues to tell potential homebuyers (if there are any these days) to wait, wait, wait.  Prices will undoubtedly go lower, and I am wililng to be mortgage rates do as well.

Housing is a disaster.  Still.  It’s going nowhere but down.  If you think I’m cheering this on, be assured that I own a home and am losing my butt on it as well, so I’m in this with you.  Reality is reality I’m afraid and housing is going to get worse.

You can see the latest data here.

3 Comments »

  • Stephan said:

    that article you linked to says things should improve by the end of the summer. do you agree with that or are you seeing weakness in housing over the longterm (2+years)?

  • 20smoney said:

    I think housing will struggle for years. If someone can tell me where a new batch of homebuyers will come from, then maybe I would reconsider that position. We've pulled every homebuyer from the future possible… Maybe we can get a few more w/ a $50,000 tax credit next time.

  • Russel said:

    About the prices getting low, I bought bathroom furniture from http://www.decorplanet.com/Modern_Bathroom_Vaniti… last year and I payed for it more than enough. Now, the prices are lower with 200$ or more. But sometimes if you see furniture or a house at a good price and you don`t buy it hoping that the prices are getting lower, the thing you wanted might raise his price and it`s gone forever.