Housing Predictor Expands Real Estate Coverage

Housing Predictor, the forecaster of real estate markets in America's 50 states is expanding its' real estate news coverage starting with an examination of the hardest hit sector of the real estate crisis.

Destin, FL (PRWEB) March 10, 2008 -- Housing Predictor, which forecasts more than 250 local real estate markets in all 50 U.S. states has begun to expand its' real estate news coverage with an examination of the hardest hit sector of America's real estate crisis.

More than any other single sector, the condominium market has suffered as a result of the nation's real estate crisis. No place knows the fall out from the credit crisis better than the state of Florida with real estate deflation. Miami, Florida is forecast to see the highest real estate deflation in 2008 of anywhere in the U.S., following what turned out to be its' worst real estate market crash ever in 2007.

However, California's condo market places a close second in deflating condominium values. Tens of thousands of investors have made fortunes investing in pre-construction condos, but is it a risk worth taking now? The inventory of condos is rising, prices are falling and developers are getting to the point of desperation. Housing Predictor explores the condo crash, which occurred after a series of events produced its' down fall and examines whether it's truly a good time to get a bargain.

However, condo markets from coast to coast are suffering as a result of housing deflation, which has already topped 50% in the loss of average home prices in some markets in Florida and California, among other states from the markets highest peak. At the same time, there are signs that some real estate markets may be seeing improving trends.

Almost like clock work, every month foreclosures of homes, condos and other properties are setting new records. Housing Predictor now forecasts foreclosures will top 5.6-million homes through 2011. More than 2-million homes have already been foreclosed as a result of the crisis nationwide.

Many economists are unsure whether the U.S. is in a full-fledged recession, but worsening economic indicators seem to place us there. The over-whelming majority of real estate markets tracked by Housing Predictor have been in housing recessions for a number of months. Many more markets are teetering on the edge of recession.

The crisis has sent shock waves through Wall Street and other financial markets, sending markets all over the world into a slide. The consensus among experts is that the government needs to take major actions to forestall the problems from worsening. But will key economic changes be made soon enough? Housing Predictor explores the fall out with increasing reports on many aspects of real estate.

Find out what your real estate market has in store, learn about whether it is a good time to buy a condo and search real estate listings at http://www.housingpredictor.com

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