posted on Sep, 24 2008 @ 06:12 PM
No, there aren't that many homes up for sale, even up here in my neck of the woods, and in fact in the oil boom areas, housing is increasing in price
as of yet and they are still building new housing for the residents pouring into the jobs yet available. (Halliburton, anyone?)
Yup, I live in one of the few areas where there are still jobs, as of yet.
But housing prices are indeed going down in most areas of where I live, and if you look, you can find perfectly liveable housing for dirt cheap. All
one has to do is drive 100 miles away from the oil boom area and housing prices decrease rapidly. High gas prices means no one wants to drive. If you
must have a McMansion, you will McPay, but if you just want a house to live in, one can be had very reasonable.
I do beleive in some areas of our nation, housing up for sale could approach the 50% and higher rate very soon, but I don't think it is even close to
that level yet. Just wait another 6 mos. There is no quick fix to what's going on now, and I don't believe we have seen the bottom of this barrel