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The Real Estate Double Dip Is Here Posted: 26 Jan 2011 05:23 AM PST We have talked about the United States real estate market falling into a double dip recession for the past couple of years. We have worried about it, heck most agents and brokerages have had the night sweats over it. Well folks, it is here.
The biggest problem isn’t the prices dropping, that is the symptom. The biggest problem is that consumers will lose their confidence in the housing market. That will be brutal. We gave billions of our tax dollars to home buyers and sellers to try to reassure them that housing was a good choice for their investment dollars. Even while mortgages were getting harder to get, buyers were coming into the market due to the low interest rates. Now it seems like they are willing to sit it out and watch. Sure homes will get sold, but it is a question of velocity. For a market to work the velocity and confidence need to be there. Let’s hope that this downturn is short lived and the buyers return. Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published. The Real Estate Double Dip Is Here Related posts:
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