Home prices heading for triple-dip

[Joseph Burkeson, CMI]

Home prices heading for triple-dip


NEW YORK (CNNMoney) -- The besieged housing market has even further to fall before home prices really hit rock bottom.

According to Fiserv (FISV), a financial analytics company, home values are expected to fall another 3.6% by next June, pushing them to a new low of 35% below the peak reached in early 2006 and marking a triple dip in prices.

Several factors will be working against the housing market in the upcoming months, including an increase in foreclosure activity and sustained high unemployment, explained David Stiff, Fiserv's chief economist.

Should home values meet Fiserv's expectations, it would make it the third (and lowest) trough for home prices since the housing bubble burst.

More: http://money.cnn.com/2011/10/31/real....htm?hpt=hp_t2

[Joe Funderburk, CMI]

It's Bush's fault.

[Nick Gromicko]

Good news for inspectors.

[James H. Bushart]

The obvious and simplest solution to this would be for a home seller to find a real estate salesman willing to reduce his commission to 3.4% of the gross value of the home from his usual 7%. This way, the seller will not see the loss and have an incentive to sell.

[Joseph Burkeson, CMI]

If the bottom is near what we should see is a drop in inventory, people will just refuse to sell below some yet to be found price and the bottom will have arrived, and I think it might be soon for west-central Florida.

[Russell J. Hensel]

Inventory here is way down. People are buying and the market seems to be doing well. We shall see. My road had 18 houses for sale last year and now there are 2....