Many “talking heads” in the real estate and financial media have been predicting a “soft-landing”
for the housing market for months now.
According to Wolfe House Building Movers
Frankly, I think that the vast majority of these “experts” haven’t got a clue as to what is really driving
the present real estate market conditions. Many of the well meaning folks who report on real estate and housing aren’t even old enough to have lived through a full market cycle as an adult.
Therefore they have little more than text book theory to go on when they are called upon to discuss the current state of the housing market. Other groups, who have a vested interest in making the housing market news as positive as possible, are simply spouting the usual propaganda about a short term downturn, with prices beginning to rise by the end of 2007.
I personally think we will not see the bottom of the present market for perhaps another year or two.
The fact is there are much bigger factors at work here. Factors that will contribute to what I predict will be the largest single real estate market slump in U.S. history. A slump that I believe has only just begun to be realized.
