Cheap and getting cheaper... This Depression is only in its early phases...
The problem with housing is that its unsellable... If there are no offers...whats it worth...?
Most people are either "underwater" on their mortgage...especially if they were refi-ing like mad during the ATM housing bubble...or were madly "trading up" during the bubble years...or recently "took the plunge"
Or...Stuck with a free and clear house they can't sell at any price...
So is that cheap yet...?
The problem is that younger and first time buyers often dont have good jobs...and can't get into a house.. The only people buying are "investors" who were milking the bubble before it collapse...and now everything "looks cheap" to them...
But again...whats it worth if you are the only one buying... Once you've bought...you're just another "stuckee"...with something you can't sell...
