Housing Tsunami
CNN Money: Tsunami Coming For Housing Crisis
Think the bottom is near in the US Housing crisis? Here are some very convincing discussions of all the obstacles and pitfalls getting in the way of a speedy recovery. There is also some interesting discussion of the plight of exurbs in a time of skyrocketing gas prices. Redevelopment is going to start in the urban centres while the suburbs are vulnerable. And what's going to happen to deal with the large supply of abandoned foreclosed houses?
On the bright side, the swiftness of the decline in prices, along with the size of the decline in places like California, is getting the market closer to a bottom.
Because of this, for young people, housing is heading back toward affordability levels not seen in a long time.
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