<p>Many areas have started to pickup and are looking to solid gains in 2007. Sorry Boston/NY/DC and SoCal area. Most of the rest of the country is looking UP.</p>
<p><a href=“Existing home prices slide, but sales pace quickens - Dec. 28, 2006”>Existing home prices slide, but sales pace quickens - Dec. 28, 2006;
<p><a href=“http://money.cnn.com/popups/2006/fortune/invguide_realestate/2.html[/url]”>http://money.cnn.com/popups/2006/fortune/invguide_realestate/2.html</a></p>
<p>Personally, I hope it takes a few months longer for DC, at least… chances are my family will be looking to buy in '07, and with me starting college, the last thing we need is for prices to go up.</p>
<p>DC is in the down group. One link gives forecasts for most major cities.</p>
<p>I hope the forecast is true. We plan to sell in early 2007. It would be nice if we didn’t take a beating on our home.</p>
<p><a href=“http://news.yahoo.com/s/nm/20061228/us_nm/realestate_miami_dc_2[/url]”>http://news.yahoo.com/s/nm/20061228/us_nm/realestate_miami_dc_2</a></p>
<p>Barrons, if home prices went up too high and people can no longer afford the prices, it looks to me that one of three things must happen. Prices come down, incomes go up, or a combination of the two. </p>
<p>This takes time. We are not off to the races next year.</p>
<p>Also, those adjustable loans have to be refinanced. Many people bought homes with teaser rate loans and those loans are going to reset. Many people can’t afford the new rates. They will have to sell, putting pressure on prices.</p>
<p>Also, speculators are leaving residential housing. Many of these speculators paid the high in housing and now they are turning from buyers to sellers. This is another negative for housing and will take a little time to play out.</p>
<p>Thanks for the warning Mini, I told people here over a year ago the Miami, Vegas condo thing was in trouble.
The housing market is vast and there will always be some clinkers in the mix. But is it the disaster some were looking so hard for–not yet.</p>