Significant downward correction has occurred in most markets and it will be a few more years before we see any significant change, according to Patrick Stone.
Pat Stone explains how the current real estate market is being impacted by the credit crunch and what resulting impact that will have on the economy.
Commentary: Economic troubles can't wait until election
Mounting losses taking toll on capital surplus
Global financial scene changes rapidly
Real Estate Question of the Day
Survey: Demand strong but financing hard to get
Commentary: All now hangs on the real economy
Commentary: Not enough capital exists to support current, new loans
NAHB official expects 'mild recession' to lift in second half of '08
Commentary: Another week of credit crunch with no solutions
Commentary: Nice try on proposed credit solutions, but no cigar
Commentary: Policy error represents greatest hazard
Commentary: Economy's in good shape, despite Bear Stearns, recession fears
John Reinhardt, president and CEO of Fillmore Real Estate in New York, joins InmanTV to discuss how changes in the credit landscape are impacting home buyers and how real estate brokers are helping buyers find financing.