June 10, 2007
In addition, the market forces that helped drive the housing boom affordable financing and the alluring prospect of escalating home values are no longer a given. Potential price breaks could be wiped out if interest rates rise any higher.
"In general, it is very difficult to time the market," said Raphael Bostic, associate director of the University of Southern California's Lusk Center for Real Estate.
"The real problem with that is you don't know when the floor is until after it's passed. If the floor is right now, you missed it," he said.