Have We Hit Bottom In Big Bear?
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There were almost 1 trillion dollars of sup-prime loans that adjusted and caused a 30% average correction in 2007-2009. From 2009-2012 there are 1.6 trillion dollars of alt-a and option-arms loans that will adjust and cause another 30% correction nationwide. If you want to pay less, wait till 2013. If you wait till 2016, prices will start to climb again. It always best to buy when prices are rising because if you lose your job, you can sell the property for more.
MrAlanKendall 2 years ago
i agree with you. end or 2010 into 2011 sounds about right.
I dont know much about your local market but in California in general there are so many factors that are coming down the pipe.
- Forclosed ghost inventory
- Alt A loan reset waves
- Babyboomers selling homes now
- Governement aid programs ?
paypalbid 2 years ago