Sweet Papa Crimbo Posted March 23, 2009 Share Posted March 23, 2009 While there is no real National Real Estate Market (all real estate is neighborhood oriented at its fundamental base), this is very interesting news. As a 25 year observer of Real Estate Markets and the incumbent shenanigans that are/were inherent therein (remember those 80/20 jumbo loans that looked so appealing 24 months ago), I have a feeling that when the 'money' senses the market has bottomed out, the recovery will be breathtaking in its speed. And, subsequently, all the hard lessons of the last 24-30 months will be just as quickly forgotten. February Existing Home Sales Rise by 5.1 percentBy ALAN ZIBEL, AP Real Estate Writer WASHINGTON Quote Link to post Share on other sites
austrya Posted March 23, 2009 Share Posted March 23, 2009 It's good to see that existing home sales and new construction are rising, but the values are still so low. I don't see my area picking up any time soon though. The unemployment rate for the county I live in is 15.1% right now so not a lot of jobs to bring new people to the area. Quote Link to post Share on other sites
Sweet Papa Crimbo Posted March 23, 2009 Author Share Posted March 23, 2009 It's good to see that existing home sales and new construction are rising, but the values are still so low. I don't see my area picking up any time soon though. The unemployment rate for the county I live in is 15.1% right now so not a lot of jobs to bring new people to the area. In these times of instant information, I think the boom and bust cycles are going to occur with much greater freqency. Quote Link to post Share on other sites
NightOfJoy Posted March 23, 2009 Share Posted March 23, 2009 Market closed almost 500 points up today! Quote Link to post Share on other sites
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