Housing Market Still Looking for a Bottom

[Liberal_in_LA]

http://www.usnews.com/blogs/capital-commerce/2007/10/24/housing-market-still-looking-for-a-bottom.html

Housing Market Still Looking for a Bottom
Meanwhile, the condo/co-op supply surged to 12.6 months from 11.4, the highest level on record going back to 1999.

http://www.marketwatch.com/news/story/housing-hit-bottom/story.aspx?guid=%7B0311E781-648B-4EE5-96AF-D35180E12295%7D

When will housing hit bottom?
Analysis: Fundamentals are bad, and there's the credit squeeze on top of that

Homes are only worth what someone is willing to pay for them, and right now, most homes on the market have no buyer in sight. Prices may have to fall much more to bring supply and demand back into balance, economists say.

[MADem]

1. Assessments will have to fall too, then... nt

[SoCalDem]

2. hah!

You are a dreamer :)

Watch taxes go UP..

[1932]

6. Chicago just increased property tax rates so that revenue won't drop along with property values.

[BelgianMadCow]

3. they can take a look at mine

not a pretty sight per se but it's a bottom

[AntiFascist]

4. I never knew the housing market was a top! n/t

[City Lights]

5. I know someone in FL whose house has been on the market since May,

and they're still waiting for their first showing. As of now, she has no interest in lowering the price because she's expecting to find someone willing to pay the appraisal price, even though the appraisal isn't even current. :eyes: Good luck with that.