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How apartment owners will react to the housing crash in 2010

By Geert De Lombaerde Posted on October 11, 2009 at 9:44 pm

The short answer: Cut prices and cross their fingers the new-homebuyer tax credit doesn’t get extended. On the flip side, those property owners with cash to spare can expect to find some deals.

Willett said that “You certainly have not seen these distressed assets come to the market at the pact they were expected to. You are going to start seeing those regional banks go out of business at a reasonably fast pace and it is going to push those assets out there.”

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3 Responses to “How apartment owners will react to the housing crash in 2010”

  1. SouthernIndie writes
    October 12th, 2009 7:24 am

    Great! This gives the prudent man/woman who has
    saved a little cash rather than buying a new
    BMW a pricing opportunity that’s not been available
    over the last 4 yrs.

  2. Cool Springs Tennessee writes
    October 12th, 2009 7:41 am

    You dont think the $8,000 new homebuyer tax credit will be extended or renewed? They may let it expire but I think without question in a few months they will renew it. Its one of the only things they have going that people liked. One person I know actually thinks Obama is doing a good job soley based on the fact she got an $8,000 tax credit for buying a new home.

  3. Geert De Lombaerde writes
    October 12th, 2009 8:11 am

    Unfortunately, I do think the credit will get renewed for that very reason. It’s an easy and relatively cheap political move. What I don’t like about it is that it prolongs the artificial support of the market and doesn’t give us a true sense of demand. That in turn means we can’t get a solid handle on just how bad the situation might get for our banks, something we desperately need to truly purge the system.

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