realtybiznews.com - It’s time to officially declare a real estate price bottom. And yes, prices could erode further in the hardest hit markets – At least statistically – but remember, the lower they’ve gone, the more likely they are to rebound with gusto.
Market fundamentals usually develop so that the market with the lowest prices now will tend to rebound with more “bounce” over time. This means that the hardest hit markets,still highly desirable locations in the sunbelt, will yield much better equity over time. The stronger areas, which have sustained higher prices per square foot, will not be as volatile to the “up-side” as these areas that were over-built and over-invested.
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