Friday, April 10, 2009
Its Not Over By A Long Shot
Read this chart, understand it, analyze it. If you come to the conclusion that we anywhere, but a long way from the end of the road, please post your rationale here. While some, mostly in the Obama White House and from the National Association of Realtors think that we're coming out of this slump and now is the time to buy a new home. I differ, in examining this data from Robert Shiller, I conclude that most markets have a very long way to fall before they reach a proper parity. At present, the market is no where near approaching recovery and thus a real buying opportunity does not exist at this time. Ignore those pleas from the NAR on your local radio stations, telling you that now is a great time to buy because affordability is at a recent low.