When is the real estate market going to recover?

Next Year (2)

22%

In 3 Years (3)

33%

In 5 Years (4)

44%

There is a wide range of predictions as to when the real estate market is going to recover. I've heard anywhere from this year to the gloomy forecasts of declining/stagnant prices for the next 5 years. What is your take on this?

Hi Ivan,

As we all know, real estate markets are local by their nature.

Trying to forecast a national recovery is like having a national weather forecast of overcast and 50 deg F for the whole of the USA. It's just not realistic. We all know the weather is different in Florida, New York, Ohio or Texas, well so are the real estate markets. They all have there own problems, pluses highs and lows.

If this was not the case, you would be able to get a 4 bed, single family, on the Cali coast for $200k. (wouldn't that be nice!)

According to some early NAR figures, some market places may have already hit bottom. Some are still going to have hard times ahead.

I'm not trying to preach, just airing my view.