Bottom forming in real estate

No really, I think it is. Judging from reading a multitude of blogs and real estate websites, and after talking with a real estate investor friend in L.A., it appears a tentative bottom may be forming in some of the worst hit areas. Is there more pain coming? Sure. But prices have dropped 30-40% in some areas, and that’s starting to interest investors. Call them vultures or call them long-term investors, but they are the ones who will create the bottom as they move in and start buying and holding for several years or to rent for income.

One Response to Bottom forming in real estate

  1. DJ Sat, Apr 26, 2008 at 10:39 am #

    The City of Cedar City, UT reports that prices dropped 16% from a year ago– but volume is higher.