Housing Bust
Why the Housing Slump Isn't Over Yet
Posted October 16th, 2007 by manystrom in
by Charles Zentay
October 15, 2007
Originally published at Charles's blog, Thinkinvest.Blogspot.com
For years, I bored my friends with talk that housing was in for a downturn. No one believed me, and people urged me to buy in before I was shut out of the market.
Despite the obvious slowdown in housing, I continue to sing the same tune. I've been doing a lot of reading this weekend about the housing market, and I've concluded that we still have a long way to go before housing reaches bottom.
Why? The main reason is that in spite of all the whining and moaning about the housing slowdown, prices haven't come down that much (maybe 10%) and affordability is still very low by historical standards.
Here are some other reasons to be wary of housing:
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