Do you remember when it all started? The whole “bubble burst” in our economy and real estate to be more precise…of course you remember! Did you expect it to have lasted this long? How do you feel about the market today and where do you see it a year from now? Below’s a quick poll. Let everyone know what YOU think by posting in the comments. I think getting a good discussion from a variety of professionals in a variety of markets will give us some true insight on what we can expect. Carla Hill of Realty Times, discusses more on the subject of the outlook for 2012.
We’ve seen the effects of tight mortgage conditions over the last year. Existing and new homes sales have struggled and we are now left with sizable pent-up demand. Will this trend continue into 2012?
For starters, consumer prices fell in October, meaning low wage workers and others struggling to make ends meet will find more affordability. Additionally, according to experts, this decline gives the Federal Reserve more wiggle room when it comes to policy making should the economy worsen.
Why the decline, which was not wholly expected? The recent developments in the European debt crisis have had their affects on American markets.
Yet, affordabilty is the name of the game for 2012. The National Association of Realtors reports that next year will be one of the best years on record for housing affordability.