by R. Sebastian Gibson, Attorney and Realtor, Rancho Mirage, California
The bad news is there for anyone to see. It’s on the newspapers, it’s on the TV and it’s coming from all the financial advisers. The housing market in California is looking bad, real bad. New home sales are down, existing home sales are down, mortgages are hard to get. The latest pronouncement is that the housing problems may not peak until 2009, two years from now. In the interim, articles are now coming out in the financial sections that we can expect double digit declines in the price of housing over the next few years. (more…)
