House Prices hit Rock Bottom
5 March 2008
Many are asking why the hell this happened in the first place, the housing market has suffered most from the sub-prime lending money problems. Existing house sales are up a notch but still not as good as it used to perform. People inflate their house prices when selling due to expected haggling during price negotiations. The new housing market is still in a slump and certain areas have almost no house sales due to insurance pullouts as they reel in their lines to cut back on losses. More is expected of the housing market, just hope it’s good rather than bad. Two insurance carriers have already pulled out of Katrina hit areas and even in Tornado alley. What’s next, time will tell. The next posts will bring the latest news and information from the house market from the experts themselves.
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