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Today: 17.01.2018 - 14:45:35
   Canada Mortgage Hub Discussion Board -> Mortgage Rates Canada -> Will home prices continue to decrease in California and elsewhere around the Nation?
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prizeworthy9832

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Will home prices continue to decrease in California and elsewhere around the Nation?
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nigal16

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real estate market probably won't bottom out until mid 2009 - millions more people still have subprime loans that haven't adjusted yet - many of those may wind up foreclosing if monthly payment increases too much
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rn88

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From everything I've read and what the talking heads seem to think, it will be another year before the market begins to turn around. We still have a number of folks who will go into foreclosure, impacting the market in supply as well as price. If you're in the business I see diversification as a means to continue making money.
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pate13

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They most likely do have more room to fall, judging by the amount of inventory left on the market. Subprime is only part of the story. Even without that element, speculators have bid up the prices so high in many markets that they still must come down to normal.Add to that the increasing likelihood that the US is facing a recession, or at best, a significant decrease in growth rates, and the net is that in most markets, the smart money would be on a continued downward trend for some time to come.That said, mortgage interest is tax deductible in the US (unlike for us poor sods in Canada), so it can often make sense to buy for your primary home, even at high prices. But, watch the property tax rates in california in particular if you are looking at jumping in anyway. I sure wouldn't consider investment property yet though. What until there is more blood in air.Good luck!
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