Zillow: Housing Market Not at Bottom Yet

Wednesday, August 13, 2008 | 03:00 AM

Zillow's Rascoff Says Housing Market Not at Bottom Yet

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Zillow_cfo

Running time 04:37

Spencer Rascoff, chief financial officer of Zillow.com, talks about the outlook for the U.S. housing market. Almost one-third of U.S. homeowners who bought in the last five years now owe more on their mortgages than their properties are worth, according to Zillow, an Internet provider of home valuations.

00:00 Housing outlook, home sellers' expectations
01:58 Housing market by region; advice to buyers
03:52 Real estate is "still...good asset class."

      
            

Sources:
Zillow's Rascoff Says Housing Market Not at Bottom Yet: Video 
Bloomberg,  August 12, 2008  10:10 EDT                                          
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atKzgz5Xg2fo

One Third of New Owners Owe More Than House Is Worth
Bob Ivry
Bloomberg, Aug. 12 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=a3uzhDOF9FXI&

Wednesday, August 13, 2008 | 03:00 AM | Permalink | Comments (7) | TrackBack (0)
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Comments

Zillow estimates for SoCal seem to be significantly higher than asking prices on a number of listings. I wonder if Zillow is having trouble keeping pace or is it shadow inventory? Either way, leads me to think momentum is building for a significant overshoot on the downside.

Posted by: me | Aug 13, 2008 5:05:29 AM

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