Housing is going to get worse: The next step for the housing market will be more of the same: declining sales and prices and an overabundance of vacant units.
It is unfortunate that the Herald gets it's news from the Palm Beach Post when this 3 day housing conference, "Welcome to the next steps", was only as far as Hollywood (this article was reprinted in the Herald and is worth reading).
According to David Seiders, chief economist for the National Association of Home Builders:
''Pricing has a lot further to adjust. The places that have to adjust the most are the ones that rose the most,'' he said -- such as South Florida.".
2 comments:
Decreasing prices = Increasing affordability
The Market does work!
I looked at the sale listing flyer for 7 'the shores' homes ... and every one of them had dropped between 45 and 60k in price over recent months.
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