Am I the only one who giggles when yet another “expert” predicts the precise moment when the housing market will recover?
Depending upon the expert du jour, we can select from the following:
- Next week
- Next month
- Fall 2008
- Spring 2009
- Fall 2009
- Sometime in 2010
- Sometime in 2011
- Sometime in 2012
I had a thought the other day (didn’t even hurt!).
What if there is no recovery?
What if this is it?
What if . . .
- Demand remains lower that expected?
- Supply eventually equals demand?
- Prices stabilize at affordable levels?
- The speculators/flippers lick their wounds and move on to the next big thing?
- Credit tightens further and buyers have to have a substantial down payment, stellar credit, and be able to afford the home they’re buying?
- Homes appreciate at 2-3% annually like they did five years ago?
- People once again buy a home to live in instead of using it as their personal ATM?
What if this IS the future?
My best guess?
If you’re waiting for “Back To 2005”, it’s going to be a long wait!