30 years to return to 2005 housing prices?

[tomtarrant]

http://cosmos.bcst.yahoo.com/up/play...up/?cl=7333181

OK, first of all, I hate bubble blogs. All Real Estate is LOCAL. Nobody lives in the "National Housing Market". but..this is interesting...

We are in uncharted territory. Check out this report from one of the most reputable economists for housing data. Our country has never seen such a bad housing market so its anyone's call how this will all work out. If you look at how long it took Japan to recover it might seem likely that we are even worse off than they were. I expect it will turn global and Europe, Canada and Asia will all get hit in the aftermath of our crisis. Could it really take 30 years to get housing prices back to the peak 2005 levels? Maybe so.....

Tom Tarrant
www.tomtarrant.com

[flippinout]

Anything is possible I suppose but I dont see it taking that long. There are too many people who have had foreclosures happen and they still have to live somewhere.

I dont see banks and mortgages taking a big loss in the prices of the homes they are selling.

But the one thing I think that is hurting us now is lack of jobs and lack of decent pay for the jobs that are available. But still, there are enough people that have great incomes that they can afford to pay the mortgage payments.

I suppose what I am getting at is, it will be wait and see thing.