When Will the Real Estate Market Recover? Some Predictions

Everyone has an opinion lately on when the market will recover and they get pretty pugnacious about it too. Here are some claims. Pick the outrageous ones!

Lawrence Yun, chief economist of National Association of Realtors: believes they might start recovering next year, based on job growth and a rising stock market. He reiterated that interest rates are still low and that buyers will be able to enter the best market in years soon. Read about it here.

Chicken Little 1.0: "Wait a few years and let them drop another 30-50%" - no, he has no credentials. Just hope and a willing spirit. How cute.

Chicken Little 2.0: "House prices will come back down to historical norms. This is a 30 to 50% decrease from "the top"... we have a long way down to go." (as of October 15, 2007) "Now is a good time to buy - Long term buyers, who do not have to sell while prices are falling and who can afford to buy are in the best position to buy whenever they choose."(As of November 4, 2007) Can anyone say flip-flop?

Donald Trump (needs no introduction): believes the market will begin to recover in about six months. You can read his interview here.

And yes, I saved the best for last. I received a comment yesterday by someone who called me a bimbo (funny, I thought I'd be called a bitch before being called a bimbo!) This person believes it will be... hold your breath... 2078 before the market recovers!

Okay, I should stop laughing now and get back to work.