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Looks like year over year rises in housed prices were the highest in 6 years. That is a very good sign.
Ultimately, most Americans' net worth is tied up in real estate, and now that housing has found a floor, we can begin the recovery in earnest.
A housing recovery will help either Romney or Obama. In the former, it will give a better impression that would probably be deserved, and would undoubtedly help with reelection prospects. With the latter, it will vindicate the hard work of the last few years, that were being undermined by the steady drop in house prices, which was hammering the middle class well after the "recession" was over.
That term is related to stocks, because of their (generally) more dynamic swings in price. Real estate values rise or fall at a much slower rate, even the big crash starting around 2006 took years to level out.
Looks like year over year rises in housed prices were the highest in 6 years. That is a very good sign.
Ultimately, most Americans' net worth is tied up in real estate, and now that housing has found a floor, we can begin the recovery in earnest.
A housing recovery will help either Romney or Obama. In the former, it will give a better impression that would probably be deserved, and would undoubtedly help with reelection prospects. With the latter, it will vindicate the hard work of the last few years, that were being undermined by the steady drop in house prices, which was hammering the middle class well after the "recession" was over.
Normally I would agree, but I hear we are doing the same thing we did before in the first RE bubble, so I don't know what this really is yet. I hope for the best though.
This economy is in the tank...stop listening to the Obama-mania-news.
I know about the economy, but this has nothing to do with Obama. I have been seeing inventory dropping, days on the market dropping, and prices rising in part of the world, which was hard hit by the bubble. I agree that some of the bubble juicing factors might still be around.
However, I do feel we are developing a large pool of "pent up demand" in the Millennials. They are getting into home buying years, and with low prices and low interest ratesin many areas, they may be able to start buying. Of course, they need jobs to do that, so it remains a chicken or egg kind of conundrum.
Until housing prices hit ~2001-2 levels they are overpriced. That's when prices started jumping because of the government manipulation in the free market.
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