Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

C N N Report Hpc Crash Begins This Year

Recommended Posts

http://www.housepricecrash.co.uk/forum/ind...showtopic=23040

Hot home markets to cool down...how will your home fare?
Price forecasts for 379 metro areas for 2006.
By Les Christie, CNNMoney.com staff writer
February 3, 2006: 10:31 AM EST
NEW YORK (CNNMoney.com) - If you've recently gambled that Las Vegas housing prices would continue to rise this year, you may be on the losing side of the bet.
According to the latest housing price forecasts from Fiserv Lending Solutions, a provider of mortgage and consumer lending services, Las Vegas real estate will tumble a whopping 8.2 percent in 2006, the largest predicted fall among the 379 metro areas studied.
Fiserv forecasts a significant stagnation in housing prices for the United States in 2006 -- median home prices overall will inch up only 1.5 percent this year. And many metro areas will experience drops, including some of the largest, and most expensive, ones such as New York (down 2.43 percent), Los Angeles (down 3 percent) and Washington (down 1.9 percent).

IMHO the thought of any kind of drop will cause a rush for the exits and the drops will be much larger than predicted. Most US buyers bought into the bubble late and used IO mortgages which means instant negative equity. Fear of losing when you are up to your eyes in debt is not to be underestimated in bubble conditions.

Share this post


Link to post
Share on other sites
IMHO the thought of any kind of drop will cause a rush for the exits and the drops will be much larger than predicted. Most US buyers bought into the bubble late and used IO mortgages which means instant negative equity. Fear of losing when you are up to your eyes in debt is not to be underestimated in bubble conditions.

Ditto for here in the UK also IMPO.

Btw, thanks for posting the US stories - all very interesting.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.