Welcome to the Peak of the Week -- a Wednesday when we look back at housing price trends and peek forward to what changes may be in store for housing prices. Remember, this is a national overview by the leading expert in tracking housing prices. Your local market may very well be different than the national trend and even different than your closest MSA (Metropolitan Statistical Area).
The two graphs basically tell me that most of the experts have no clue what is going on TODAY let alone forcast into the future. In the past year (August 2010 - 2011), the starting price level dropped about $7,000 (jsut over 4% reduction in price) and the projected bottom has been exetended out 6 months. This seems consistent with everything that I have read on the housing price problem.
The leading expert in the field is projecting August 2011 price levels to be reached again in about 2-years!!
Until the economy recovers hand in hand with housing, you must prepare for the worst and pray for the best.
As I have said many times ----- AS Housing Goes.........SO Goes the Economy!
What does this mean to YOU?
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