So is this good or bad? We are officially the best place to buy real estate in the country. I actually kinda liked the slumping prices. Things got affordable. My wife and I even purchased a home. Rental properties were coming down to reasonable prices and then WHAM!! Forbes has to go and ruin everything.
Here's what the yahoo's are saying:
Salt Lake City is on top of the list because our housing should not fall. The national “experts” are saying that Salt Lake may have found a bottom because we are bringing in new jobs faster than any city in the country. Also, our in migration is extremely high.
Check it out for yourself at http://www.forbes.com/2008/02/07/house-bargain-hunters-forbeslife-cx_mw_0207realestate_slide_11.html?partner=email.
Who knows if this is good or bad. I have clients getting good homes right now in the low $200s. New construction is still in the tanker but that is changing. I don't expect us to appreciate 30% again. Can't we just be happpy with a good 4-6%? Who knows. We will see what happens.
In other news... we got lots of snow today. Get out the skis.