What are my chances of being a Rockette?

What are the chances of the housing market getting even lower OR rising again anytime soon?

• What are the chances of the housing market getting even lower OR rising again anytime soon? Hey guys. Important question, and I'd like a few opinions/answers. We are currently renting, and have for the last few years and probably will for at least another year or so. As everyone knows, the housing market is at an all time low apparently, and I believe it is still dropping. We are hoping go maybe buy a house when it drops even more, as right now its still a bit too expensive for what we'd like, especially in the area we want. But what are the chances of prices getting even lower/the economy or market get worse? Especially substantially lower? What are the chances the economy will be BETTER in the next year or so and prices will sky rocket? I just want everyone's opinion on this case and on both scenarios. Obviously no one knows for sure, its all guess work. But with the way things are moving, what do you all think? what are your best bets? Thanks! I should add that i like on USA, California, LA if that helps...

• Answer:

  Real estate is local in nature so it depends on where you live. In terms of LA, on the high end homes, they will continue to go down in value. On the low end homes, they have hit bottom.