Mortgage Applications rose globally. Do you think it is time to buy houses?
Some global real estate institutes jubilant about Mortgage applications and they say housing market has bottomed despite least affordable housing markets in the world.
However top real estate investors think different way. They advise not to touch housing market at least for the next 07 years. They expect prices to come down more than 40%.
Pl see following link as well
http://www.bloomberg.com/apps/news?pid=20601213&refer=home&sid=ayj uUq9_6Rhw
Best Answer
631 points
Creezy answered 7 months ago …
I'd wait a bit longer. While residential real estate has certainly been hit hard, I think we're going to see another drop when mortgage resets occur in 2010. Also, commercial real estate is just starting to get hit. A drop in commercial real estate (at least in my neck of the woods) usually precedes a commensurate drop in residential real estate.
So my advice is to sit tight for a bit longer still.
