Are you Happy with Housing Prices Falling?

If you haven’t noticed or read the news, it has been reported the house prices are falling rapidly and this is due to the impending crisis that has pulled the real estate market as well. Is this good or bad?

It is good if you are the consumer that has saved and would want to get your own home. The time to finally purchase that dream house is now and you have the luxury of choosing what you want. So as far as people are concerned, good housing at these lowered rates is an opportunity that many have longed for, even before they started escalating towards inappropriate levels.

On the other hand it is bad for the economy since it means that our businesses are dropping and the developers are destined to lose a lot. It can also mean inferior use of materials for living as the best way to drive down the cost is to turn towards alternative raw materials to help ease the burden of potentially devastating losses in the real estate development process.

So as a consumer, it is a good thing but for investors, it may be bad. Depending on which side you are on, it is a reality you just have to love or hate.

Source