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What Is The Projected Date Of Real Estate Market Recovery
It is believed that the projected date of real estate market recovery is still two or three years ago. Most real estate experts are of the opinion that the real estate market slump will hit rock bottom either by mid 2008 or late 2008. |
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However, there are still other who think that worst phase for the real estate market is actually over.
All these people though have one thing in common -- they agree that the recovery of the real estate market from the slump will be a long drawn process, and will be something that will take longer than a year or so to get over the crises that are plaguing the real estate market.
There are certain experts who feel that the real estate market recovery will happen as soon as early 2009, which is just 15 to 16 months away from now. However, there are still others who feel that early 2009 is pushing it to close. The wait for real estate agents could be much longer. It is believed that the wait for real estate market recovery could be as long as 3 to 4 years.
This does not portent good for the real estate market. But everyone is waiting patiently for the prices to drop still further. Most real estate experts blamed a flurry of bad loans, a runup in home prices and increase in foreclosures for the slump in the real estate market.
Easy financing resulted in a runup in home prices and this actually started the slump. The result is that home sales are almost half the level of what they were two years ago. However, the projected date of real estate market recovery is less than 3 years away and the Federal Reserve’s decision to lower interest rates will go a long way in restoring confidence.
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