One Moody's economist is predicting it will take 21 years for California housing prices to reach their peak levels -- 2030.
According to the story in U.S. News and World Report, Economist Celia Chen thinks housing prices nationally will continue falling until the end of 2010.
She thinks prices will fall a total of 43 percent from peak levels. Nationally, prices won't recover until 2020 -- with places like California and Florida lagging behind for another 10 years.
The Orange County Register brakes this down on an annual return for the O.C.: 2.7 Percent.
Monday, August 31, 2009
20 Years for Housing Recovery?
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But I am looking for recovery opportunities today in real estate ownership...I am looking at alternative new investment opportunities and I have found a new resource for Distressed Debt Investing through buying pre-foreclosure notes through auction. Has anyone been engaged in this activity. One sight that I have found offers auctions on these properties, and I would like to know if anyone has used them or knows of similar websites out there targeting Distressed Debt Investing... Check out www.RealtyNoteBid.com and let me know your thoughts…have you used them? Do you know anyone who has? Any feedback? Do you have any other resources / info that might help in my understanding this investment channel.
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