The other major house price indexes will very likely confirm a double dip in the next month or so as well-- although the indexes seem to indicate that declines are moderating. And most of the evidence I see suggests a bottom later this year is likely. Of course the same evidence would indicate that a sharp rebound is unlikely also, so the bottom won't probably be all that noticeable, even months after the fact-- unlike the bottom of the stock market in 2009 for instance.
A lot of markets are already well into double dip territory. The market here in Columbus is already well below the 2009 lows, as are many of the other markets here in the Midwest. I looked up my house on zillow a couple weeks ago, and it was pretty depressing-- the estimated value is roughly 20% lower than what I paid for it in 2001! And Columbus is supposedly most resilient economy in the region among the big cities-- lower unemployment than Cleveland, Detroit, etc.
to post a reply:
login - or -
register