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Old 02-20-2008, 02:35 AM
inda50 inda50 is offline
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Default Re: Real Estate Prices with excess supply

It looks to me like the market will continue to decline for some time to come. I remember the 80's and 90's , it took a long time to recover, and the flow of people to TV has slowed. The east coast of Fl. has been devastated by the decline in buyers. This hasn't been felt to the same extent here, but it may unless things pick up. It is always a matter of supply and demand, plain and simple. Right now the banks are holding alot of bad paper (mortages), they have to some extent absorbed some of the housing price decline ( in effect). But at some point the market will stablize and this excessive debt will be removed frome the market. In the past this I believe was done by the value of the dollar going lower againt other currencies, and investors from other countries buying into the U.S.A. Look at Sony, Honda just to name a few but there are lots more.Sorry to ramble, bottom line, don't see the light at the end of the tunnel, this may take years to unravel in the mean time the only bright spot is road construction, everything else is declining