Returned? When did it leave?????
... when the experts said we reached bottom and prices started going back up (Early in '10)
It is so crazy. I'm basically holding on hope of being able to somehow refinance (I legally have to in the next 3 years), but also trying to figure out when I just give up and foreclose. If I just go into foreclosure now, "they" say my credit will rebound quickly and all will be okay again in a few short years. But what if they are wrong? Or, what if I wait and I can't ever refinance so I have to walk away at the end of the three years? Maybe foreclosure then will really screw with my credit for 7 years.
I'm just holding on to a hope that there will be some sort of homeowner rescue plan that actually works for people. I know it won't happen, but I can dream.
"And NPR's Planet Money provides four reasons why [prices may go down substantially]: There are a lot of houses for sale, there are a lot of foreclosures, interest rates are going up, and the government is getting out of the bailout business."
A recovery in housing will not happen until the unemployment rate starts going down & wage growth returns. Until that happens, the people who can both afford to buy a house and qualify for a mortgage will enjoy a buyers market.