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    Perspective on housing will affect pace of recovery
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    While home prices may see additional declines in some of those cities over the next year, their long-term prospects are good, Blitz said. "If you buy a home in Beverly Hills or an apartment on Manhattan’s Upper East Side, over the next five and even 10 years you are going to do very well ... The greatest threat to price growth in the New York area would be the diminution of Manhattan as a trading capital, and I don’t see that happening." The 10 cities where real estate prospects are the worst, Blitz said, are: Detroit; Cleveland; Milwaukee; St. Louis; Tampa, Fla. ; Sacramento, Calif. ; Indianapolis, Ind. ; Atlanta; Columbus, Ohio; and Minneapolis. Full Article at Worcester Telegram & Gazette
    If you buy a home in Beverly Hills or an apartment on Manhattan’s Upper East Side, over the next five and even 10 years you are going to do very well ... The greatest threat to price growth in the New York area would be the diminution of Manhattan as a trading capital, and I don’t see that happening.
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
All quotes from:
Perspective on housing will affect pace of recovery
  1. Everyone expected their house would increase in value and they could cash out their equity to fuel their spending
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
  2. After every major bust, there is a rethinking of that asset class ... I think people will change their views about real estate and begin to look at it as a long-term investment that provides shelter, rather than a way to make a quick buck.
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
  3. Latin American currencies are going to do very well versus the dollar, and Miami is seen as the capital of Latin America ... Its long-term economic prospects are good, so its current oversupply will be worked off.
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
  4. We always talk about homeownership as being the American dream, but during the last decade people forgot it’s shelter and started thinking of it as a fast way to make or lose money ... The quicker we move back to seeing real estate as a place to live, a place to put down roots, the quicker the housing r...
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
  5. A lot of what drives housing is psychological, and right now there’s a distinct lack of confidence in real estate.
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
  6. We should have rented an apartment, rather than doing what we thought was the right thing and putting everything we had into the house
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
  7. If I buy a $300,000 home now to get the tax credit and prices drop by even 3 percent next year I’ve lost that $8,000 and more
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
  8. It will be a long time before people think of owning a home as a good investment again
    SOURCE: Worcester Telegram & Gazette 2 weeks ago
  9. We don’t know how we can come back from a loss like that
    SOURCE: Worcester Telegram & Gazette 2 weeks ago

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