Bailout

House Price Puzzle: Mid-to-High End

By Anonymous

I've linked to a few pieces of the puzzle below.

But this adds up to more supply (in the mid-to-high end) because of rising foreclosures - and limited demand because sellers at the low end are mostly banks or short sales (so there are no move up buyers), and tight financing.

To me, this suggests prices will fall much further in many mid-to-high end areas.

Few Move up buyers

See: Home Sales: One and Done

And even more shadow supply, see: High Percentage of Homeowners Waiting for a Market Turnaround

Full post as published by Calculated Risk on May 15, 2009 (boomark / email).

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