Comments about ‘Utah outlook on housing is improving’

I wish it's true. After government tax break gone will see. Recession still very much alive. Commercial real estate start shaking.

Demand is improving and sentiment is drastically changes since 2008. Buyers are confident this is the best opportunities of their lives. If Utah can keep our employment high and tax rates low we will have a successful real estate market.

These guys are drinking their bath water.

@Josh: I'm guessing you're a real estate agent, hence the disconnect from reality. Few real estate agents I've met understand how the economy works. They don't understand what caused the housing bubble and bust in the first place (or any bubble and bust, for that matter), so they always assume the things will eventually return to the way they were. Here's what they don't understand: the housing market is waaaaaaay overpriced still. Before prices can stabilize, they have to undergo a correction, just like the rest of the economy. The only reason prices are going back up is that the Fed is doing their best to reinflate the popped bubble. It's not going to work in the long run.

"We're going to have to build 100,000 new housing units in Utah by the end of 2011," has to be the most idiotic statement I've heard this year. I'm just going to assume its a misquote; thats the only logical explanation.

I think commercial real estate is going to collapse early this year and then alt-A will be the new subprime in the residential sector soon. Food will hyperinflate and housing will be extraordinarily deflationary. People will spend money for food not expensive houses. As is the case with most jobs in the new economy I don't think most people can afford a house over 40,000 even with degrees and both spouses working. The only people that seem to be buying are the few people that still have jobs that haven't been shipped to China or have lots of perceived wealth in their soon to go bust retirement funds and soon to be bankrupt social security checks. Sorry I wish I was more optomistic about the housing situation, but I'm not. I am optomistic that many of us will survive through this new great depression as we work together and cooperate. I am optomistic about people, just not the economy.

Although we are in for a long recovery, the real estate market in most parts of Utah are stabilizing.

Earl's comment about real estate still way overpriced is not true. We will see some MINOR price drops in luxury homes over the coming years, but I'm talking 3-5% max. Homes 300k or less are not going to drop very much more if at all.

Inventory is shrinking & consumer confidence is returning. I'm not saying there is going to be an influx in prices for a long time, but if you're holding off buying a home to time it perfectly, you've already missed the boat.

Inflation is on the way so rocky roads are ahead. Inflation=higher prices.

Greg,

3-5 percent MAX? You have no idea what you are talking about. You must be a real estate salesman.