Closing out the year on Sacramento real estate…
December 31st, 2007 Categories: Real Estate News, Real Estate Trends, Sacramento Real Estate
As 2007 ends, Experts agree: Decline in American house prices are not over yet… and economists react: as New homes sales sink to the lowest annual rate in 12 years!!
And then; More people buying into new developments are being left high and dry when their builders file for bankruptcy. Wouldn’t that be nice?
How bout this one:
Experts thought 2007 would bring a real estate recovery - not the worst collapse on record. What does that say about forecasts of a turnaround next year?
Or this one:
“Over the past decade, the exponential growth of credit derivatives has created unprecedented amounts of financial leverage on corporate credit,” he added. “Similar to the growth of subprime mortgages, the rapid rise of credit products required ideal economic conditions and disconnected the assessors of risk from those bearing it.” …what?
All I know for sure is that opportunities like this only come around every 12 to 15 years in Sacramento… for those lucky enough to have withstood the craziness of this market and are in a position to buy now: good for you; we’ll see you on easy street soon!!
Is there any doubt that prices will rebound? Does anyone wonder what will happen? Nobody knows when, but we all know this market will rebound and those who were able to buy sometime during this drop will be in the drivers seat…
