According to this article from CNN Money, the housing market has recovered to the point of around 2003, which is actually not too bad considering 2006 is widely-accepted as the peak of the real estate market. We wont be seeing 5-7% annual increases any time soon like we were predicting back then, but many economists are predicting a small 1-2% increase from this year to next.
Thanks Rapid Growth Media: ARTICLE
This Old House: FULL ARTICLE
THURSDAY, MARCH 10, 2011
Photo: Courtesy of the Heritage Hill Association
ThisOldHouse.com touts Grand Rapids’ historic Heritage Hill neighborhood as one of the top 12 “old house neighborhoods” in the country for sustaining a sense of place in a storied residential area, and the best Old-house neighborhood in Michigan.
excerpt:
Why Buy Here?
Though short sales and foreclosures haven’t hit Grand Rapids (long the center of the office-furniture industry) as they have Detroit and other automotive cities, the down market hasn’t overlooked Heritage Hill. Today, you can grab the former castle of a lumber baron or wealthy judge—and walk from home to work in the city’s center—for what amounts to pocket change in other places.
Read the complete story here.