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"The sustained good news in home prices over the past five months makes us optimistic for continued recovery in the housing market," said David Blitzer, spokesman for S&P.
So savers are going to have a harder time buying? Outstanding!
Well, I think it shows people with underwater mortgages, they may eventually be able breath air someday by having an asset that will be worth more than what is owed.
So savers are going to have a harder time buying? Outstanding!
The housing bust is the reason savers have a harder time buying. A rise in home prices shows a strengthening economy along with the stock market and positive job growth. Despite everything the congress has done to stall it, it is still recovering. Imagine how it would be if there weren't others purposely trying to tank it.
The housing bust is the reason savers have a harder time buying. A rise in home prices shows a strengthening economy along with the stock market and positive job growth. Despite everything the congress has done to stall it, it is still recovering. Imagine how it would be if there weren't others purposely trying to tank it.
Savers will have less money to repair and upkeep their house if prices rise. Houses cost way too much in general and still need to fall further, and they will.
But, of course, I'm sure people will ignore me just as they did in 2005..and I will be right there to sip on the Schadenfreude in front of their faces.
That really is great news. However, i am a realist.
I was in real estate for many many years, still have some great realtor as my best friends, and thruout the Country.
There are many many areas, that have taken a direct hit, due to the over population of BANK OWNED, REPOS, PRE-FORECLSOURE, AND FORECLSOURES. That have not sold, and making a direct impact on a regular listing, i know i travel, and i have seen.
That is great news for areas, that are starting to come back, and i say starting too. We still have such a long long way to go as far as this housing criris is over.
Not going to name States or Cities that have taken a direct hit, you know, you live in some of them i am sure.
So although we have some good news, ain't good, until every freaking last Bank Owned Property has sold, and if you knew just how many are on the market, and not moving, it will depress you.
My area ain't impacted if you cannot afford to look in my area, you won't buy here. But i think of all the areas, not just where i live.
I think a lot of people suffered collateral damage from the housing meltdown. It overcorrected, of course, and with the unemployment,etc. people who did not buy on top, nor do anything silly found themselves underwater. It is quite relevant. I hope to sell my home next year (after being here ten years), and if the trend continues, I might even break even.
Savers will have less money to repair and upkeep their house if prices rise. Houses cost way too much in general and still need to fall further, and they will.
But, of course, I'm sure people will ignore me just as they did in 2005..and I will be right there to sip on the Schadenfreude in front of their faces.
Home prices are rising again because for a very good reason - DEMAND.
The fact is, as long as the US population continues to grow there's going to be an increasing demand for housing of some kind. If folks aren't buying they are RENTING - and over the last couple of years (as people quit buying) more and more people began renting with the result that rental prices have risen considerably. Now, with interest rates continuing to be at record lows, smart investors have been buying up vacant homes and turning them into rentals - thus driving up the demand for those homes. The result is that there is now actually a SHORTAGE of homes on the market in many cities and thus home prices are rising again - in some case fairly dramatically (Phoenix for example is up over 20% from the low) and have been for up to a year now.
For someone who claims to be a fan of the "party of business" you sure don't seem to understand the most basic law of Supply and Demand.
Ken
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