The Case-Shiller Index, released last Tuesday, showed Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Miami, Portland, Seattle and Tampa, to name a few, had hit new bottoms, falling to the lowest levels since prices peaked in 2006 and 2007. Stan Humphries, chief economist at Zillow.com, a real estate information site said, “It is going to be a rocky bottom, where we bounce around," ...and after that, "it is likely that real estate appreciation won't keep up with inflation."
On the other hand:
RISMEDIA, January 18, 2011— reports that "Housing will see gradual improvements in activity this year as the nation’s economy and job market continue to move to higher ground, establishing momentum that will produce more considerable gains in 2012, according to economists who appeared at the NAHB International Builders’ Show in Orlando on January 12."
O brother, where art thou?
Everybody needs a house to live in. If you decide to buy one, make sure it is one you like. Good Hunting.
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