How long do you think it will take for the realestate slump to recover?
by 
VenusRising
ANSWERS: 2
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The real estate slump is a general term used when looking at the total housing market. It does not exist in some areas, it has come and gone in others and in a select few markets it continues. Each individual must measure their market based on their situation. If you are selling, you may not sell for as much as you might have sold last year or the year before. Prices in many markets were pushed above realistic values. They have either returned to sensible levels or they soon will. It is not a slump. It is a correction. The correction will continue in markets until such time that the local prices return to a level in line with the local incomes. Tightning credit does not impede the market, it only improves the bank's portfolio. If you have a good credit score and around 5% to put down, there is no slump...there is a plethora of homes to choose from.
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My guess is when the election is over. No matter who wins, I hear things like this always happen during election yrs. one way or the other.
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