If Prices Pause
snip...
"If we are seeing a pause in the remarkable series of price increases seen during the past few years, and if in some cases we are seeing actual declines, then the game changes. Millions of people who bought at or near full price may suddenly find that they own a property which is worth no more and perhaps less than what they paid.
This is not really much of a practical concern for those who stay put, but what about those who move? If you paid $500,000 for a home that is now worth $485,000 can you sell?"
more...
"If we are seeing a pause in the remarkable series of price increases seen during the past few years, and if in some cases we are seeing actual declines, then the game changes. Millions of people who bought at or near full price may suddenly find that they own a property which is worth no more and perhaps less than what they paid.
This is not really much of a practical concern for those who stay put, but what about those who move? If you paid $500,000 for a home that is now worth $485,000 can you sell?"
more...
posted by Little_Silvered at 6:14 PM
1 Comments:
Price drops are going to be shocking.
Just like buyers have been abused the last 3-5 years It's payback time for realtors & sellers.
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