Bernanke: Soft, Orderly Landing for the Housing Market... REB Has its Doubts
Bob Bernanke, in a recent speech, states that the housing market is indeed cooling. Now we know that many of you (especially eager buyers and vultures) are looking forward to a rapid deflation, but according to the Fed Chairman, it looks like it's going to be a soft landing for housing, the main economic catalyst of the last five years.
At the moment, REB.com is observing very few parts of the country where sellers are desperately trying to unload, but as inventory rises even further, this too may change. This is especially true in parts of Miami/Ft.Lauderdale, where "flippers" took out contracts on unfinished condos and are all trying to sell units simultaneously. I have my fair share of doubts about the "soft landing." Stay tuned...
For additional insight into Bernanke's testimony, an article from the Washington Post
