[l2ridehd]

I track this market in TV very close, and also keep my eye on the market up North. I have responded to many posts on here on this topic and have usually been very positive. Starting in mid 2009 until about March or April 2010 the market was moving up. Somewhere between 6% and 8%. However in May of 2010 it started to reverse and has dropped about 6% over the past 6 months. There is nothing in the near term that will cause it to change, and in fact many things that will cause it to continue down. Probably for the next 12 to 24 months.

I would still be a buyer in this market as you now have the chance to select a more desirable home with those things you want. Mortgage rates are excellent and the selection of properties will never be better. Yes it may drop another 8% to 10%, but trying to catch the exact bottom or top of any market is a fools game.

At some point in the future we will see inflation. In fact I personally believe we will see hyper inflation. Sometime during the tail end of that cycle it will hit housing prices and they will go up dramatically. Probably 36 to 48 months from now. The job market has to improve first for that to happen.

In fact I will make what some will think is a very wild predication. During the next 12 months we will see a 5% to 10% decline in home prices from where they are today and within 5 years you will see homes about 50% to 80% higher then today. My amount of swings may be off a little bit, but you can take the direction of change to the bank.