Real Estate Prices Collapse
The real estate prices in the US has shot up drastically recently. Real Estate agent Andrea Gauss said that the prices of a typical 4 bedroom house near good school rose to as high as $ one million. We are talking about a house located in the leafy Maryland suburbs outside Washington. It has been seen that any piece of property that was sold last year, is taking months to unload now. As a desperate measure home sellers are slashing the prices to free themselves of such property and also prevent the further sinking of the value of the piece of property. According to Andrea Gauss: It got to the point where appreciation was so high that it priced people out of the marketBut the peak has passed, and the consequences of the deflating bubble are buffeting the housing market, in Washington and across the U.S.Look how fast prices were going up. The same thing is happening on the way down.
Tags: Business, Real estate, real estate collapse