I have noticed in my area that not so many homes are on the market currently, I wonder if this is a reflection of them not being stuck on the market as long.
Just a guess, but I bet it's a result of lower inventories because more people (who have the option) are waiting to sell rather than trying to fight the market.
Thats a good point, I know prices have gone up a little bit in my area, but nothing close to what they were just 4 years ago.
There are several homes that have been on the market for at least a year. I thought that the market was taking an upswing, but it looks like things are still a little tough for those in this industry.
Is the house price at the 2006 peak something like the nasdaq at year 2000. More than a decade past nasdaq is still around 50% from its all time high. My guess is it will take a equally long time for home owner to see 2006 peak price.
A slow climb, but it really should not be a quick one, that would just be bad again.
Election Year Housing Politics
Street Smart
6/2/2012 10:04:09 AM
Job creation numbers and unemployment are perennial hot-button indicators during an election year, but I hope that housing prices and the lack of mortgage liquidity will come to be big factors, too for the middle class and above.
Obama has done NOTHING of substance to help people who are underwater with renegotiation and refinancing of their loans. The banks are too big to fail but the citizens who borrow from them are apparently too small to succeed--in receiving any attention or mitigation. That cloud continues over the economy just as much as unemployment.
Since I live in a bright blue state, I've given up the idea that my vote actually counts, but I hope those in truly depressed housing markets can find a way to make it an issue in the 2012 campaign.
I agree. There are fundamental issues that need to be worked though and this will not happen quickly. I think there is still an inventory that was purchased by people who just really couldn't afford them that needs to be soaked up before we can see any real growth.
Re: Election Year Housing Politics
icebreaker1975
6/3/2012 12:13:27 AM
Well, I live in a bright Red sate and I figure my vote counts...anyway, the housing market has tumbled...whats next?
I bet it's a result of lower inventories because more people (who have the option) are waiting to sell rather than trying to fight the market.
@Noreen, equities are falling, house prices are falling, commodity prices are falling, just wondering where will people invest all the money ?
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