Monday, August 23, 2010
Charlottesville is Still at Stage #1 On This List: The Five Stages of America's Housing Bubble
This "list" is a much worse position for sellers than for buyers. The majority of sellers in this market have to sell. Bubble prices have come down 30% nationally, here, much lower, despite record inventory. Buyers have the luxury of time. And since the national view is that housing is no longer a way to build wealth and housing is not going to "rebound" in the financial lifetimes of current buyers...the amount of $ lost in this area boggles the mind.