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Tuesday, May 22, 2012

Bogus Housing Recovery; Major Housing Price Drop Ahead?

Some home sales statistics released this morning make it sound as if a housing recovery is on the way. But check out this CNBC report from Diana Olick (one of the few real estate bears) which breaks down the numbers by region and price point to show a different picture: significant home sale drops in the West and South.

Commercial real estate may not be faring any better.

Mind you, these statistics don't address the prime stat you should care about: home price movements.  As to that issue, noted real estate economist Dr. Keith Jurow is holding to a belief that there is no housing bottom in sight.  He has cited recent sale price statistics to show that New York home sale prices and New Jersey home sale prices are still declining and could be at risk for a major, imminent price collapse.

If you want to learn more about the reasons why, and how much of a price drop could occur, contact me or come to this upcoming presentation.


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