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Zillow predicts that house values will continue to drop
The housing market may still drop another 3-5% according to Zillow CEO Spencer Rascoff.
Mon, Dec 19 2011 at 3:29 PM
Zillow CEO Spencer Rascoff sat down with Fortune’s Adam Lashinsky to discuss the future of the housing market and the news is not good. Rascoff reported that according to Zillow software, the housing market can expect to see values decline another three to five percent over the next year. Unfortunately for sellers, the values are expected to stay bottomed out for several years.
Photo: Images_of_Money/Flickr
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So true Virginia, but Jon Kolsky is not alone in being clueless about the market. Most agents got it wrong for the last 5 years and many lost their own houses to foreclosure due to lack of professional foresight.
Jon Kolsky is just like every other agent on the planet. Couldn't find the direction of the market even if they were rolling downhill. Sad really.
Doom and Gloom outlook? Sorry for that negative gloomy outlook, the housing market has corrected, historical interest rates is more what's going to drive the housing market to consistently go up at slow rate.