Quote:
Originally Posted by Duke41
As as real esate broker in Mass My figures show that foreclosures are about 30% of my office volume, short sales are 50% and conventional sales 20%. With smart young kids buying cheap with low interest rates. My thoughts are that we are going to see real estate prices continue to drop for the next few years and then rise and rise again as these kids continue to enter the market. There is a mni-boom gernation comming up of about 31 million kids between the ages of 26-31. They should pull us out of the real estate slump as long as they can find jobs.
I would expect the entry level housing market to continue to lead the market for the next 5-7 years and then the rest of the market to slowly rise as these kids trade up.
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Duck41, since you are close to the industry, What kind of impact does this have on the 2nd home market (vacation home). I'd love to try and get into a vacation shack on the Cape in about 5 years or so (provided I still have a job)