The real estate slump has no fix - either quick or long standing. The real estate slump could expand into more than a slow-blown recession. The housing market in major U.S. cities are in a state of a major mess. Even the real estate agents and industry are in no position to deny this situation - even though the real estate industry still says ” Its a great time to buy “, “Don’t miss out”. In Southern California real estate values are also in the tank. The gloom however is far less pervasive. In the real estate retail marketplace intertia marches and presses onwards. However the housing decline seems to be a self generating phenomenon, the product of too-high high real estate prices and too easy and even crazy , non sustainable lending practices , and very low interest rate structure and rates.
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