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Ronald,
I’ll be interested in seeing what others have to say in the forum, but I’ll give my two cents. With all the weirdness emanating from DC, it’s tough to say. 10 million people behind on mortgages, about that many behind on rents, and none of them able to be moved from their housing, the supply is seriously low. Additionally, we are inflating ourselves at a rate the Weimar Republic would be proud of, so prices are at an all time high. I don’t see either of these things changing anytime soon, therefore flattening out, or declining aren’t likely. I did see the 30 year mortgage rate finally bounced off the floor so that is one thing that may help, but the long overdue correction many of us have been waiting for, could be quite a bit away.
Having said this, I am trying not to wait and still make good owner carryback financing offers in this environment. I don’t want to delay and if I can find or build good opportunities, I’m taking them. Of course, eliminating as much risk as possible is key in any transaction right now.
Greg
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