Serving Bellingham & Whatcom County
Serving Bellingham & Whatcom County
Coldwell Banker Bain
Tom DeRose :: Wireless: 360-220-9355 :: Email: tderose@coldwellbankerma.com

Housing Crash and Recovery: Part 9

Posted on December 1, 2011
Attitudes
The data presented in this series of entries suggest that home prices should be rebounding. But they aren't. Why?
 
Part of the problem is one of attitudes and expectations. Only 13% of homeowners expect the price of their homes to go up. In contrast, in 2006, 81% of homeowners expected the value of their home to increase!
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The attitudes of lenders is also a barrier to recovery. Banks have become very cautious. Personally, I think the caution is good. The huge numbers of current and upcoming foreclosures is a reminder of the dangers of easy lending.
 
In the decision to buy a home, it is important to distinguish between levels and changes. Home prices, housing demand, and home building are very low, but they all seem set to increase. Housing inventories remain too high, but they are trending down.

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