Where is the bottom of this real estate bear market?
Which economists got it right?
Here’s one. Nouriel Roubini.
He predicted all of this mess a year ago while Wall Street execs were still flying high in their private jets and spending thousands on fancy toilets and such. (Sounds kind of like the way our government spends, huh?)
Pick your gurus with care as we go through this recession. That’s my main advice.
But what does Roubini have to say about the bottom for real estate?
“The value of homes has already fallen 25%. In my view, home prices are going to fall by another 15% before bottoming out in 2010. ”
There you have it. Somewhere in 2010.
Where I disagree with him is that there are areas where home prices have not gone down as much as 25%. However- how much farther will they fall is our real question?
Here’s what Wayne Rodgers has to say. Wayne also got “it” right.
I know, I know, he’s into stocks and commodities, but his advice holds also true for those of us in real estate.
“The key in times like these is to stay solvent so you can load up when opportunity comes.”
There’s a ton more in a series by Fortune Magazine – 8 Really Really Scary Predictions
More from the Net
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