More Doom and Gloom

Click the following link for a very depressing article predicting double digit decrease in prices in the Seattle market over the next five years! Yikes! They predict that home buyers won't pay more for a mortgage than they would for rent on a similar house. I am not sure that this is ENTIRELY accurate. Home ownership has many rewards. Long term buyers should still see a building of equity over time. The low interest rates and large inventory of homes currently on the market make it a great time to look and buy. As of now, we haven't seen any decrease in prices in the Bellingham market. It will be interesting to see how the numbers come back in the fourth quarter of 2007. I will definitely keep you all posted.


http://money.cnn.com/2007/11/06/real_estate/home_prices.fortune/index.htm