Oh, there's enough greed and blame to go around (including those sucker buyers who thought they could get something for nothing down). Those sectors you mention are certainly culpable, too, but for every realtor who can reference some snapshot data point demonstrating just what a GREAT TIME it is to buy a house, I can show you two illustrating the contrary.
What folks really need to be looking at are real wages in this country, an aging demographic, and the excess inventory that isn't going to get filled for a lot of complex sociological issues. That boom you saw in Wilmington in the 90's (partly the greatest generations retirement exodus) won't repeat itself here again. The boomers have not saved for retirement.
Prices are going down, down, down...so I guess, it just MAY BE A GOOD TIME TO BUY! God forbid you're an elderly person who needs to sell and transition into assisted living. We have four our five properties in my (relatively well to do) neighborhood that have been vacant for over a year. Just where are those buyers going to come from, I ask? What good jobs are here in Wilmington?
Realtors, like anybody in sales, may know their product and how to move it, but I'm not sure they are always knowledgable on the larger issues in play.
Around Wilmington, I see a lot of realtor carnival barking huckersterism.
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