"Nearly two-thirds of Americans would still prefer to own a home, although the recent housing market turmoil and uncertain economy have made them a little more cautious about how and when, according to a survey released Tuesday." CNNMoney.com
Read all of There is still value in home ownership
2009 reports show US Homeowners have lost nearly $500 billion in home values overall, but that’s still better than last year. The biggest losers were the Los Angeles, Chicago and New York metro areas at a collective $159.4 billion loss in home values. In contrast, Metro Boston, Providence, R.I., and Denver gained $46.4 billion in home values all together. So where will this lead the direction of home values in your area? Unfortunately, this is something which is hard to predict. There are many factors which figure into this equation such as; home equity (negative and positive), (un)employment, living wage jobs, etc.
Read all of Home Values Decline
Builders are reluctant to construct more housing due to the amount of bank owned new construction homes already on the market. The inventory of new homes for sale is the lowest since 1983, according to a recent article from CNNMoney.com.
Read all of New Home Market is Weak
Sure, Foreclosure filings are still higher than they were a year ago. However, recent reports show that for the third consecutive month this number is slowly, but surely, declining. In addition to this, home prices have reported modest gains. This means that most mortgage holders now owe less than what their homes are worth, which in return helps the foreclosure rate decrease as well.
Read all of Foreclosure filing rates decline
Home prices: About to get much cheaper
