So are the experts. Here are a couple of interesting opinions about the future of the housing market and the US economy.
Samuel Miller is a Manhattan real estate appraiser, contributer to Newsweek and well read online voice in the online real estate community. Here is a recent post from his “Matrix” blog.
One voice that doesn’t seem to be as confused is Robert Shiller, Professor of Economics at Yale University. Shiller, co-founder of the respected S&P Case/Shiller house-price index.
Shiller speculates that losses arising from America’s housing recession could triple over the next few years and they represent the greatest threat to growth in the United States. Shiller spoke to the London Times.
How does all of this impact Colorado Springs? No one knows for sure. I do know that when costal markets were going crazy, we were respectably plodding along with single digit appreciation. I would like to think that we will will see single digit losses as well. It should be an interesting 2008!
