Though the national real estate market remains bleak--in some neighborhoods vacant homes outnumber those that are occupied and sellers are being forced to lower asking prices in a bid to lure bargain hunters--it's assumed that when housing dips to a point where buyers think it represents a bargain, they'll buy back in.
The problem is many of the markets that experienced steep 2007 price drops are still a long way from recovery.
That's ...
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Gives a nod toward the end to credit tightening. Perhaps the role of predatory lenders, and foreclosures, in getting the real estate market to this point is so well understood that it is already an assumed part of the context of the story, yet I found it an odd omission.
Interesting article about the impact of lower real estate prices on the economy. This short report cites two studies from Moody's and Harvard to measure home buyer expectations, which suggest that 'the more sharply prices fall, the more likely buyers are going to stay out and wait for a bottom.' The article is fairly presented, based on factual information and offers helpful context.
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