The old cliche’ is well known…”Which came first…the chicken or the egg?” And so, with all the wrangling over how to “fix” housing, the question to ask is “which came first, the job or the house?”
The Real Reason Why Home Prices Have Fallen And Can’t Get Up
There are a litany of factors that have aggravated the housing crisis since it’s early beginnings in 2006 – 2007. Among the many issues cited for the ongoing crisis are the high rates of foreclosure, the resulting excess of vacant properties on the market, and the impact this has had by lowering appraised values. While all of these have definitely aggravated the problem, the data indicate that these are more the results than the fundamental cause of the housing crisis.
Cities Expect More Budget Cuts as Home Values Continue to Fall
The writing has been on the wall for years, but the moment when cities will have to make serious cuts to deal with falling housing prices may come in 2012. Part of the real estate market collapse that rarely gets attention is the effect it has on property taxes. Cities use those taxes to pay
Confidence In Real Estate 2011
A report released last week by the National Association of Realtors suggests the housing market for 2011 may be a lot better than previously expected. Existing home sales are up again, and investment in new construction stock is up as well. With jobs and other variables stabilizing, it seems as if the overall outlook is very positive for 2011.