A great article came up in one of my news feeds today that I wanted to share with readers. This provocative Business Week article, says, among other things:
- Prices will only stabilize once foreclosures and sales volumes stabilize first.
- While some areas will stabilize as early as 2010, national prices won't stabilize until 2011.
- For the "bubbliest" of markets, including the author's home turf here in OC, prices may not stabilize until 2014.
- When prices do stabilize in OC in 2014, prices very well could be lower than in the early 90's.
His and my advice to buyers in SoCal is simple: wait.
Viva los Osos!