Historical trends don’t lie. At least that’s what “smart people” are saying. And “they” are saying that we have not reached bottom, yet.
first tuesday – a real lestate publication that I’ve come to enjoy, and agree with (on almost everything . . . almost) pegged a 15% decline yet to come.
Yale economist Robert Shiller agrees, and sees an even bigger drop to come.
So, what’s one to do?
Grab on tight to buyer-investors. Make what feels like low-ball offers. They may give the client room to survive the coming downturn, and still propser, 5 – 7 years from now.