Have Housing Prices Stabilized?

by Mike Jacka on February 12, 2010

While the government wants us to believe that the recession is over and the economy is heading back in the right direction, all the indicators show something completely different. Housing prices in particular are heading back down in many areas, as I have predicted several times in the past on our weekly training calls.

CNBC even talked about it the other day on their Power Lunch news show.

Jobs are the biggest reason in my opinion. While the Unemployment rate has dropped below 10%, the number of people unemployed is still growing, currently over 17%. The unemployment rate only counts the number of people currently collecting unemployment benefits. It does not count the number of people whose benefits have expired and are still unemployed.

This is why housing prices will continue to decline, now that most firs time homebuyers have already taken advantage of the tax credit and even more people are losing their jobs. I agree with Diana Olick that we will see more pain in the housing market before it is over.

Please feel free to post questions and comments below. While I can write to no end about my experience and observations the real metal comes to the surface when you ask questions because that is how I can provide you with help and information that can help you directly!

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