With unstable real estate markets across the United States and the world, it seems like the hope for a quick recovery will be long coming. Though some regions have seen some improvement over the last few months, this may not be an ongoing trend.
Joseph Foudy, a professor of economics and management at NYU's Stern School of Business, notes, "We're coming off of an artificial bump from the first time home buyer credit, which expired last month." He predicts the second half of this year will see sluggish economic growth and that housing prices, at best, will be flat for the next few months, while commercial real estate "is likely to see significant declines." Read Article
We would like to hear from you. What is the condition of your local market? Are values and sales down or is your market recovering? What are the predictions for the rest of the year and going into 2011? Also do you think your current market offers good investment opportunities?
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