Housing Market Confusion

I don't know about you, but we've become immobilized by our own confusion; we just let a great house pass us by, because we didn't want to pay the price that was being asked. Why? Because we're waiting for the market to fall.

Or is that waiting for the sky to fall?

Which led me to wonder: what is the market doing in the areas that aren't featured in the news? Sure, we have big drops in price in places like New York, but that market had been so overheated, it had no place to go but down. At the same time, there are other areas where the prices are still increasing by double-digit percentages, like Florida (even though hurricane season is soon to start... but that's another topic.)

So, what's the market doing where you are? Is it "hot", "flattening" or "falling like a rock"?

Surely the analysts aren't the only ones who are watching house prices with an eye to what's up (or down). If we are entranced and using tools like Zillow to find the price of homes, there must be many a theory out there on the state of our housing market.

Personally, I think the urban markets are primed to fall, and the suburban markets to flatten. The rural markets should stay stable, unless something drastic happens overall. At least, that's what I think.

In the meantime, if we aren't going to move, we still have a space problem to solve. I do believe we'll be refinishing our basement.

Michael

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