Prediction: home prices will bottom out at end of 2009, 2010 or 2011

That’s pretty safe, eh? But this Moody’s report predicts that those areas already hardest hit by foreclosures and lowered prices will hit bottom in the last quarter of 2009 while other markets just entering the morass (that would be Greenwich) will continue to decline until 2010 or longer. Attention Greenwich/Naples residents: Moody’s predicts Naples prices to settle 70% down from their peak. Owie.

5 Comments

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5 responses to “Prediction: home prices will bottom out at end of 2009, 2010 or 2011

  1. Anonymous

    Chris Fountain–

    Do you have Any good news to share–Shame on you! You are not supportive of the Greenwich real estate market. What’s your point? In your job as an agent, you could be more positive. Are you the prophet of doom? And what makes your opinion SO IMPORTANT??? You have been wrong many times before.

  2. anonymous

    Doubt anyone at Moody’s has a 3-digit IQ….tend to laugh at their predictions, both during the Bubble…and during the Deflation

    Can very well have a multi-yr, U-shaped, not V-shaped, pricing “bottom”, whenever that’s reached…

    • christopherfountain

      Well I believe it was Moodys that gave triple-A ratings to the securitized mortgages that Wall Street got rich on, so you have to give them credit for that. Ay least you have to give them credit for that!

  3. Paco

    Could be worse. Ireland – of all places – may have had the greatest real estate bubble anywhere for an entire country. I read someplace that the Irish government has warned that prices for the entire country might fall 80%.

    BTW, your friend Senator Dodd owns a house in Ireland doesn’t he?