What's your take on the current housing market situation? I know that it has increased and interest rates have increased too? Is it going to continue to escalate or is it going to stabilize?
Our property manager says that the market is starting to look better (he's a real estate agent, too.) Whether or not it will stabilize or escalate, I wouldn't venture a guess because I don't know how to determine those predictions. I assume that it would take just one "crisis" or presumed crisis for it to go the other way again when the economy is so volatile.
I think that take off is a too optimistic expression, but certainly that is going to improve as soon as we start to get more access to credit. It has been pretty much dead so let's face it, it can only improve.
What are mortgage interest rates like in the US? In Australia, they are still pretty bad, hopefully they improve, or interest rates for savings accounts. One or the other will, so either people will buy more, or save more.
I wouldn't say the housing market is anywhere near taking off as such, but it's certainly looking better than it has done in a long time. It's still a buyer's market at the moment and they will be in control in a lot of negotiations so if you are thinking of selling, I'd be tempted to wait a little longer so you might be in a better position.
Everyone or at least most people are predicting a stock market crash. Some say it could be as early as this year. For others it's soon but are smart enough not to say how soon, soon is. Anyway, should the predictions come true then the housing market would also crash again as it did back in 2008 and it would take quite a bit of time for it to recover.
I think that the housing market has been slowly picking up and I believe it will continue like that unless something unexpected happens. Economy is getting a little stronger so things are improving.
There are always the doom and gloom merchants that are saying the market will crash, every other week. All the signs are showing that globally, the markets are slowly improving and looking ahead, unless there's a major catastrophe, I don't see a crash of the housing market any time soon.
I don't predict a slump any time soon. Things are slowly improving but I think it might take 18-24 months for any significant improvement to be seen. That's assuming Cameron hasn't bled us all dry before then, of course!
