Is the housing boom over?

[Steeltwo]

my friend who sells houses in metro area and western wisconsin said it's slowed down quite a bit

he use to clear around a house every 3-4 days.

now it's about 1 per 6 days. He said it is also a buyers market.


one of the big things you will see in the up coming years is alot of people selling for cheap.

why you ask?

a big chunk of home loans over the past 3 years have been interest only. And depending on the terms. In 3-5 years, you have to start paying on the principle. So your payment goes up by quite a bit.

and since houses are now staying on the market for longer and longer. People will need to get their houses sold faster. So lower prices.

the boom isn't over persay. But it is slowly going back to the way it was.