It looks like we are nearing a tipping point in real estate as the media and now polling companies are trying to capture the falling real estate market. Typically, when the market attracts this much attention, it is nearing its bottom, and then stabilizes.
The one thing about the housing industry is that it is a consumable product. People typically do not own homes that are not used. So as housing demand catches back up to supply, and with the exiting of the speculators and flippers, builders are already slowing down construction, the market will regain its equilibrium.
Even more importantly, 7 in 10 investors believe conditions in the residential real estate market nationwide are getting worse, not better — up from 63% in June.
via the Gallup Poll.
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