Lower end homes may start moving up!

Posted by discuss | U. S. Real Estate | Wednesday 4 March 2009 6:00 pm

It is estimated that one in every five mortgage borrows are in trouble.
Amazingly enough rental market in some areas is still very good. Mainly apartment rests stayed high. This may lead to those markets recover at least for the lower end hosing market. If renting an apartment is costlier then renting an apartment some people may start buying.

This would very soon revive the market for houses up to $200 K and below!
When I say 200K it is in the areas where you can buy a 2000 SFT to 2500 SFT for $200K markets. If you live in an area where $500 K is the min house you can buy they are a different ball game. (I don’t live there so, I am not sure)

What happens to the higher end housing like half a million and one Million dollar homes?
Well: This may take a good two years before we see people jumping on these.
Job market and general economy are to improve to the level every one is comfortable.