Home Sales Poised to Drop In Coming Months

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Less middlepeople trying to take a huge cut out of the deal would be a good thing. They are just taking a cut, that could be administered much more easily on the internet. The industry needs a shake out. The increased liquidity, and decreased transaction costs would cause a boom.

Adam of VA 8:02AM July 02, 2010

You cannot doubt that this is the time for a good community organizer to step in here and get control of some of these areas. Real estate could be helped a lot by the Govt building very large tracts of new low cost (or free) housing. That would employ people right off the git go. Then when they are done building it, they will be jobless so they can move in. How's that for a plan? Realtors, stop buy ACE and check out hammers and other basic hand tools. You will soon be building what you sold.

WhatEndeavor of TX 5:19AM July 02, 2010

House prices in California may be headed for an additional decline of 35%, but in other areas of the country, it will be less than 25%. Sure its horrible and yes the "best time to buy a house" line is pure BS, but we need to work off all that inventory. It's a refyi market now, with super low rates.
Realtors will be crushed for sure, but by 2015, it will settle out and start slowly going back again
I do agree that anyone with a brain will not buy a house in 2010 or even the first half of 2011, but the chicken little's need to relax and simply wait a couple years to buy.

Pete of NY 6:52PM July 01, 2010

As an insider who has sold real estate for many years, I am appalled at the weakness and incompetence of our elected leaders in Washington !. They just killed the first time home owner and have ruined my market for the foreseeable future. They make the loan process impossible.
How am I suppose to sell homes in this environment when everyone knows they can wait it out and get a much better price in 8 months? Hoising is already down 30% here and headed down another 30%
This is the death knell to realtors. Congrats to Congress for ruining my livelyhood.
You just killed the housing market.

Tina of AZ 6:44PM July 01, 2010

Why does NAR continue to lie? Now is the "best time to buy a house"?
Any fool who buys a house now till end of year is just that, a fool.
Better deals are a year away after the royal ":flush"

Tad of CA 6:38PM July 01, 2010