UBS economist predicts at least 10% drop in home prices in 2007

[w¡n9Nµ7 §£@¥€r 123]

UBS chief economist Maury Harris is predicting median home prices will fall 10% over the next year...

[...]

However, he expects the Fed will step in and begin easing the fed funds rate in March. He sees the Fed cutting rates by 100 basis points to 4.25% from its current level of 5.25% over the next year. If this doesn't happen, he said the declines could be sharper.

http://www.marketwatch.com/news/story/stor...A-A73E84A788A3}

[almaty 19]

f##k. i just bought a house

[Carol&Marc 0]

UBS chief economist Maury Harris is predicting median home prices will fall 10% over the next year...

[...]

However, he expects the Fed will step in and begin easing the fed funds rate in March. He sees the Fed cutting rates by 100 basis points to 4.25% from its current level of 5.25% over the next year. If this doesn't happen, he said the declines could be sharper.

http://www.marketwatch.com/news/story/stor...A-A73E84A788A3}

I hope their right. Carol and I are waiting it out!

[w¡n9Nµ7 §£@¥€r 123]

f##k. i just bought a house

Hopefully you plan to keep it a while.

I hope their right. Carol and I are waiting it out!

Damn vulture (j/k)

[Trompe le Monde 1,107]

I'd say this is already happened where I live, and probably prices dropping even further in the next year

I'm waiting for it to bottom out!

[w¡n9Nµ7 §£@¥€r 123]

The only way to know when the prices have hit 'bottom' is after the 'cycle' is over and someone spits out a graph. Then you realize the 'bottom' was x years ago

[Carol&Marc 0]

f##k. i just bought a house

Hopefully you plan to keep it a while.

I hope their right. Carol and I are waiting it out!

Damn vulture (j/k)

I've been called worse! thanks for the compliment

[garya505 2]

UBS chief economist Maury Harris is predicting median home prices will fall 10% over the next year...

[...]

However, he expects the Fed will step in and begin easing the fed funds rate in March. He sees the Fed cutting rates by 100 basis points to 4.25% from its current level of 5.25% over the next year. If this doesn't happen, he said the declines could be sharper.

http://www.marketwatch.com/news/story/stor...A-A73E84A788A3}

This is very dependent on the region. The areas that experienced the greatest increases are the ones most at risk of a big drop. Areas that did not have a big increase may not see any drop at all.

[w¡n9Nµ7 §£@¥€r 123]

This is very dependent on the region. The areas that experienced the greatest increases are the ones most at risk of a big drop. Areas that did not have a big increase may not see any drop at all.

True. Bear in mind though, that any change in the national median price of a home is solely due to regions that actually see changes in home values, whether up or down. Geographies with stable pricing have no effect on changing the national median values one way or another.

Edited November 15, 2006 by Gupt

[Caladan 19]

This is gonna hurt. Too many people maxed out with second mortgages depending on their home value to rise.

[w¡n9Nµ7 §£@¥€r 123]

This is gonna hurt. Too many people maxed out with second mortgages depending on their home value to rise.

Which is one reason so many people are trying to sell right now. At least here in NJ.

[Ban Hammer 14,396]

This is gonna hurt. Too many people maxed out with second mortgages depending on their home value to rise.

Which is one reason so many people are trying to sell right now. At least here in NJ.

lol i'd be selling too if i was in new jersey

since gimy is not around i can post this

[Miranda&James 8]

I hope they go down, we want to get a house in the near future!

[Caladan 19]

This is gonna hurt. Too many people maxed out with second mortgages depending on their home value to rise.

Which is one reason so many people are trying to sell right now. At least here in NJ.

Which of course gluts the market and drives the prices down faster.

On the upside, those of us in our twenties now have a chance of one day buying a home. The bubble has to burst at some point, but if it deflates rather than pops, so much the better.

[AnaAndDaniel 0]

I'd say this is already happened where I live, and probably prices dropping even further in the next year

I'm waiting for it to bottom out!

so you can enter the market?

Daniel

:energetic: