Housing Data Says “Wait To Buy A Home!”
22 June 2010
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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.
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.
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