Real Estate Investing Realistically

The August National Association of Realtors (NAR)report shows that existing home prices fell 1.7 percent compared to a year ago. This is the first drop in the price in 11 years. It was also the second biggest drop ever recorded.

So the big “Pop” you heard was the bubble bursting. David Lereah, the chief economist for the Realtors, tried to spin this by saying: “The price drop has stopped the bleeding for housing sales. We think the housing market has now hit bottom.” Hit bottom? I think that’s an overly optimistic statement. He’s hoping things don’t go into a tailspin.

Obviously the biggest corrections were on the coasts, where the market was the most overheated. The middle of the country, particularly Texas still seems to be a pretty good place to consider investing.

Filed by Webmaster at 9:07 pm under Real Estate Investing
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