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Rent to Own

By Trevor

Merrill Lynch's expectations for the housing market:

But with the sales backdrop still softening, they may have to slice their construction plans by another 30% before we hit bottom on a cyclical basis. And, that bottom could be as long as a year away. Beyond that, weak demographic fundamentals point to years of sluggish real estate activity, particularly in terms of the ?price?. The looming dominance of the ?move down? buyer suggests that home values will continue to soften long after the building industry mops up the current excess supply. In fact, real estate pricing in general can be expected to be in the doldrums through 2012.

Which, conveniently, is the first year that my net worth will become non-negative.

That's a scary thought.

Full post as published by T Sinister on December 21, 2007 (boomark / email).