When you look at the whole state of the economy both in the US and abroad why would anyone expect anything but a further decline in the housing market? I believe we will see the decline continue for at least 3 more years in real terms. The only thing that would make the housing prices go up is inflation due to money printing by the Federal Reserve.
'Double-Dip' in Housing Prices Even Worse Than Expected
U.S. single-family home prices dropped in March, dipping below their 2009 low, as the housing market remained bogged down by inventory and weak demand, a closely watched survey said Tuesday.
"This month's report is marked by the confirmation of a double-dip in home prices across much of the nation," David Blitzer, chairman of the index committee at S&P Indices, said in a statement. "Home prices continue on their downward spiral with no relief in sight."
Though there had been hopes in the industry that prices were troughing and ready to turn higher, the latest trends show little hope in sight until later this year or early in 2012, he added.
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