Housing Prices Could Rise 12.4 Percent by 2014 ????????

Housing Prices Could Rise 12.4 Percent by 2014
http://www.realtor.org/RMODaily.nsf/pages/News2010051901?OpenDocument

Leading analysts are going out there with some pretty optimistic projections ( article was from Wall Street Journal) and while I wish that is what will happen, I urge my clients to have caution for the next 3-5 years.

 There are many more foreclosures to be  released to the market and someday the banks may figure out how to successfully close short sales.

 JOBS, JOBS, JOBS folks , that is what will spark housing and until we get people back to work , the markets will plug along with minimal if any appreciation.

Lets think positive but be prepared and accept 1-2% appreciation for the next 5 years.

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