Mammoth Real Estate Market Still Continuing the Downturn in California
By Stacie Robbins
(Mammoth Properties)
We are now almost 3 years into this real estate market down turn and there is no sign of rebound just yet. However, several well respected economists are making predictions of when they think our market will bottom out and then recover. Former U.S. Federal Reserve Chairman Alan Greenspan wrote in an article for Emerging Markets newspaper that the U.S. housing market will recover in the first half of 2009. “The recent slowing in the rate of decline in U.S. home prices is the first positive note in this now year-long trauma. More conclusive signs of pending home price stability are likely to become visible in the first half of 2009.” -- “ Greenspan Sees Housing Recovery in First Half of 2009,” by Jake Lee, Bloomberg, Oct. 10, 2008 Respected economist and Mercer University professor Roger...
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