Friday, June 19, 2009

Business Week tells us what our houses will be worth in 2012

The people at Business Week believe they know where prices will be 3 years from now. So take a look by clicking on title above or cutting and pasting this link:

http://images.businessweek.com/ss/09/06/0618_house_worth_2012/1.htm

While these are the most realistic projections I have seen thus far from main stream media, I disagree greatly with their assertion that these levels will be reached partially due to a rebound in 2012. By 2012 we will begin to see the peak of the foreclosures starting to come back on the market, this massive distressed supply will lead to greater downward pricing pressure for at least a few years beyond 2012. So while this is more realistic than most, it stills leaves a lot to be desired.