When Will We Hit Bottom?

When Will We Hit Bottom?

Are you getting as tired of hearing about this as we are telling about it?  The housing market is just getting worse.  Home resales tumbled 8% in September to the lowest levels of the decade, prompting the obvious question:  When will it all end?

The REAL answer is:  NO ONE KNOWS!. 

Optimists have been saying for more than a year that the worst is behind us, while the pessimists have been saying recovery is still a year, or years, away.

So far, the pessimists have been right about the weakness in the housing market, but their forecast that the collapse in housing would lead to a general economic recession has, at least so far, failed to happen.  The economy has slowed, but has not fallen into recession, as consumers and investors adjust to a world in which home prices don’t automatically rise 5% or 10% a year.

What do you think?  Have we hit bottom?  Is there still more fall to come?  Click the comment link below and let us know.  Your email address is required to comment, but we DO NOT allow your email address to show up with your comment for your privacy protection.  We’d love to hear your thoughts about the real estate and mortgage markets.