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It is just one month to month uptick...year over year is still down 17%. Could simply show that the decline is lessening, more than any sort of upswing. Lies, damn lies, then statistics. The housing market is going to be in stagnation at best for a very long time until some equilibrium is reached and people start getting hired again.
Basically, this happened last year too. It's seasonal, and should happen every year. Home prices are not on their way back up, and we are still down year over year.
Last edited by MiddleIslander; 07-28-2009 at 09:57 PM..
Although I turn on CNN over most other news outlets - I take their stories, polls and statistics about as seriously as The Onion, but without the humour of course
The market is not in recovery mode and anyone who tells you differently has something to gain from that lie (property sellers, REA's, Banks, etc, etc)
Basically, this happened last year too. It's seasonal, and should happen every year. Home prices are not on their way back up, and we are still down year over year.
Here's a bit of news, specifically about New York.
"The GAO study released Tuesday predicts that the number of foreclosures on homes backed by subprime or low-documentation mortgages could easily double in the coming months or years, which could put tremendous pressure on housing prices throughout the city and suburbs."
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