As a professional Real Estate Broker, I often find myself getting on the band wagon with others...
We all complain that the media just can't seem to report anything that even hints at being positive. To be fair, there hasn't been a whole lot of fun stuff to talk about lately ( although I was ecstatic today to see my favorite gas station had slashed the price of regular, from $4.19 to $4.17... Yesss! )
So I'm reading the Wall Street Journal this morning, and this jaunty little segue catches my eye: "As Welcome as a Root Canal or Rabies Shot, here come more Housing Data..." ..."The numbers are expected to offer fresh reminders that neither the financial sector nor the broader economy can leave the Intensive Care Unit just yet." The gist of the article is that we have a huge over-supply of "Vacant and/or For Sale" homes. "The Law of Supply and Demand suggests this doesn't bode well for the future direction of home prices." Awhhh, Come On Now! "To get this vacancy rate back to near normal, over a million homes will have to find new owners." But, here comes the Grinch... Mortgage interest rates are starting to creep up!
I feel like I put on my SPF 15 ( not the Papa Bear "4" or the Baby Bear "50" ) back in 2005... went to the beach... and went in the water to cool off. Problem is I got caught in a Rip Current and have been swimming parallel to the shore for three years! Shouldn't this be letting loose? Oh, well, it can't get worse, right? But what's that in the water ahead? Is that a fin?
2 comments:
http://www.investors.com/editorial/IBDArticles.asp?artsec=5&issue=20080725
Frank, Some encouraging data. keeping fingers crossed
"tomp" - thank you... We'll take all the encouraging data we can get. There's a fine line between "pie in the sky" and "gloom and doom." We should be neither "ignorantly optimistic," nor "emotioanally pessimistic." Hard data can always fuel a trend! Thanks again. Frank.
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