According to Kirk Nace, the top real estate market prognosticator, "This is one of the best pieces I have seen in terms of simplifying the US Housing Market and the decision to buy or sell. Prices still have another 25% or more to drop from today's levels and we will not even approach a bottom until at least 2015 or beyond. Once we do arrive at the future bottom, which could be delayed repeatedly by our government's continued insistence to tinker with the market, it will be many more years before we leave that bottom. I fully expect that prices will continue to decline through at least 2015 and that we will then see them hover along a bottom for close to a decade, perhaps longer, until they ultimately start moving ever so slightly up sometime in the mid 2020's at the earliest. Today's owners can sell now, for whatever the market will bear, or they can sell for less at any time over the next 20+ years, or they can wait 20+ years and again sell for what they could have sold for today. The likelihood that prices will return to 2005/2006 levels anytime in the next 30 years is simply fantasy."
Click on the title above or the link below to review the entire CNBC article. http://www.cnbc.com/id/41782186
