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Housing bears: Gone extinct?

Posted by Scott Van Voorhis September 27, 2013 08:48 AM

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It used to be you could not so much as mention the words "rising home prices" without being mauled by an angry housing bear or two.

The bears, circa 2009, were in full roar about how the bottom was about to fall out of the then reeling Greater Boston real estate market. Having already fallen by 20 percent, Boston area prices were likely to go down another 20 or 30 percent, the bears growled on the comment board of this blog and others like it.

If you dared to disagree, well then you were some sort of shill for the real estate industry.

Of course, the much predicted  - and certainly in some quarters hoped for - real estate Armageddon never came to pass. As bad as it got in 2009 and 2010, we never saw epic, game changing price declines in the Boston area.

Now with prices on the rise again, housing bears are apparently once again a small and shrinking minority, with just 9 percent of Americans polled in a new survey predicting a drop in home prices over the next year, Bankrate reports.

That's compared to 55 percent who think prices will rise over the coming 12 months and 27 percent who forecast no change at all.

Optimism apparently rises with the income level as well.

Sixty-five percent of homeowners who make between $50,000 and $75,000 believe prices will rise over the next year, compared to just 6 percent that see a drop coming.

Housing bears, where are you? Give us all a good reality check here.

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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