As the end of the year approaches, many of us are wondering what is in store for next year. I am spending some of my free time reading up on predictions. I have such hope for our real estate market and the experts are all over the board on what they think will happen. But these are predictions, right? It all depends on who the ‘expert’ is and what his/her agenda may be… but it’s still interesting to read and take with a grain of salt. I like what is being said about high-tech cities hopes for recovery. Seattle may not be leading in this group but I think we make the list.
Here are some you may want to read, I’ll likely add to the list as I make my way through more articles.
Trulia predicts that mortgage delinquencies will go down but foreclosures will go up, rents will go rise, mortgage rates will increase, the government will take little action in policy affecting the housing market and the cities that will see the most recovery will be high-tech/high-skill workforce cities.
Inman News also predicts more foreclosures, stating that short sales and REO sales will become the new norm and that the ‘smart’ high-tech cities will do well. The writer also makes a great point, which I myself have observed, that buyers/homeowners and sellers will finally see the reality of the market and buyers/homeowners will base their decisions on what they can truly afford in their lives, not on some hope of future appreciation and riches from real estate.