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Home arrow Opinion arrow Editorials arrow NEGATIVE 12.4% WITH MUCH MORE PAIN TO COME
NEGATIVE 12.4% WITH MUCH MORE PAIN TO COME PDF Print E-mail
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Submitted by Administrator   
Monday, 13 August 2007
After many good years of real estate sales, and real estate appreciation, the last year has seen real pain for the entire sector. A report issued today in the Daily Real Estate News lists Modesto as number 6 most depreciating metropolitan areas (Year over Year.) Couple this with the prediction that the peak in forclosures will not be for another 18 months, and we really could be in for trouble. There will be enormous pressure for housing prices to plunge even more. This could even cause some additional bankruptcies from people who would not be able to refinance. It could become a vicious cycle. Why do certain developers want to build even more homes at times such as these? I am sure they have their reasons, but it just does not make sense to me. Stay tuned in to the Stanislaus Free Press for further updates, as more facts become known.       Administrator
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