November 17, 2005

Outlook sours for real estate - Did homeowners who sold in September get out just in time?


I sold my over inflated condo in July... Think I'm sleeping well at night?
And more and more leading indicators are pointing to a slowdown.

In Boston, real-estate investor Matthew Martinez reports recently having spoken to five condo converters. "They all said the party was over," Martinez said.

In Florida, Elena Filipa, vice president of the Corcoron Group in West Palm, said "We've leveled off. I would say prices will go up this year, but not as fast as they have."

None of this surprises the many economists who have been waiting for a downturn.

Richard DeKaser, chief economist for mortgage banker National City, has been reluctant to call the top, but thinks it has finally passed.

"We're coming down the other side of the mountain," said DeKaser.

5 comments:

skytrekker said...

The top was about a month or so ago, prices have peaked. It may be late for some who bought less then a year ago.

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