Wachovia doesn't see home price turnaround for 2 years
Another big bank predicts a sluggish return to home price stability. A recent housing report from Wachovia mentions "expectations for continued devaluation through mid 2010."
Okay, so Wachovia is like a guy buried neck deep who claims he can see over the trees to the quicksand ahead. It did, after all, misjudge the market so badly that it's about to be digested by Wells Fargo.
But based on the number of homes for sale on our market - somewhere around 35,000 - I don't any upside for prices in 2009.
Price stagnation? That's a possibility. Across the board price increases? Not a chance.
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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
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