Thread: 2009

Wondering what everyone's prediction for the real estate market in 2009 is? Will we see a recovery this year? Is it going to get worse? (that's got my vote). Are going to stay flat nationally? I know every local market is different, but the macro factors are going to affect everyone - employment, interest rates, etc.

I think we will start seeing a rise, hopefully by this summer. When all these stimulus packages being thrown out left and right , actual start to show some success.

This year is going to be tough for everyone. Every business will get battered and bruised. We will see more layoffs and property values will go down on average across the country. Of course there will be pockets that see strong appreciation and some markets with strong fundamentals will be flat or rise slightly.

I believe that the bottom will come with the largest layoffs of this recession (unemployment will rise even while the country is recovering) and many will not see it as a bottom. The media will have more negative news laid before the consumer and then the next set of data following this low point will show that manufacturing levels and transportation shipments were actually up for the period. Interest rates will then move up rapidly. And those that waited to long will end up paying more on a monthly basis than they would have while the sky looked like it was falling. Though the actual purchase price of the home will have been less. Some will find themselves unable to purchase the house they could afford before because of the higher interest rates. This will bother them so they will choose to not buy. High inflation will kick in and interest rates will likely reach double digits and a yet greater number of people will be unable to purchase a home.

Probably, its right to say about this year. Values of the property can go down as the time is not good nowadays.

Properties will continue to lose value (in general) due to continued foreclosure problems, unemployment, and general poor economic conditions.

In some areas, property values will remain flat, or even increase in market value. This will be the exception, not the norm.

This is only conjecture, though.

I see value of properties diminishing. Lots of problems will arise and economy will be worse than ever but I see a slow recovery at the end of this year. And I see... oh, nothing more, my crystal ball is out of battery. LOL

It's all relative to where you are at. I am in Austin, TX and we still had areas of town that increased in value. Overall we are flat. I think people are really trying to get back to work and move on. I think the worst is probably over, but I am just guessing.

From a consumer standpoint, bottom or no bottom I will most likely be buying or building a home sometime this year. You have to fish or cut bait. No one can know what's going to happen but prices are to good right now not to buy. And that $8,000 tax credit for those first-time home buyers (me) certainly sweetens the deal.

But I don't think you get a tax credit if you build, is that right?

i think we still have a good way to go. imo, i don't think we'll see a turn until late this year if not next year. i hope i'm wrong though...

I agree, things wont start to get better till 2010