Is house price increasing, when will it be decreasing?
Answer:
Maybe when there's an economy collapse.
the news says that the house prices are decreasing because there is a big supply of houses waiting to be sold and this is because the banks have tightened up the requirements for geting a mortgage. if your credit is not strong, no one will let you have a mortgage. if many people are in the same situation, no one can buy and no one can sell and so the house prices will drop even more.
it's not such a good idea to buy a house with the idea of 'flipping' it-- that means buy it with the idea of selling it for more immediately to make a profit. you should probably buy a house that is good for you and the family, stay a while and enjoy it, make a few excellent upgrades if you can afford it. when the time is right, sell it for MORE money, and use that money to buy another affordable, good house for you and the family to enjoy. and so on and so on. get the picture?
The market has shown that a 5% decrease has already taken place, due to the high inventory of homes. The market is getting ready to drop another 5 to 10% to reach the demand of consumers.
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