Quote Originally Posted by freonjoe View Post
I think the prices for existing houses is so low is because there are too many houses avalable for the number of buyers in the market. Just wait till more of the shadow inventory starts showing up!
Or looking at it another way. We need more buyers for the many houses available. Higher wages, more jobs = increased number of buyers. Home prices are low compared to the high of the bubble, but in many areas they are still higher than they were before the bubble.