Forecasting the 2008 housing market is certainly difficult. Things are moving alittle faster now than in 2007...thanks to lower interest rates that seem to be header lower for the spring market.
Supply still exceeds demand, but more balance in the future will give sellers a little more power in the equation than they have had recently. However, sellers are still enjoying profits if they have held the property longer than 2 years. Their profit is less but, they are not losing money either.
Investments in real estate will continue as investors are more trusting of properties versus the stock market. Investing in real estate is still a smart move. Everyone has saved dollars they might have had to pay the IRS.
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