Is The Real Estate Market Ever Going To Come Back?

May 21, 2008

Is The Real Estate Market Ever Going To Come Back?

I hear it everyday… Will this real estate market ever come back? How long is this going to last? Have we hit the bottom yet? Well, the honest answer is, no one knows for sure. If you were to line up ten educated and seasoned real estate analysts, you’d surely get a 50/50 split in the opinions. Some say we’ve already hit bottom, other’s say we won’t see it until Spring 2009. It certainly seems like the newspapers do all they can to keep a negative spin on current conditions! I recently came across this excerpt from the Wall Street Journal, one of the finest of all newspaper publications. For once, a newspaper, more importantly, the WSJ offers a more positive spin which gives homeowners and consumers hope. Read on…

May 16, 2008 (Wall Street Journal) Home construction turned up unexpectedly in April and showed surprising vigor, making the biggest increase in two years, while building permits also rose, a sign of optimism for the sickly housing sector. Housing starts increased 8.2% to a seasonally adjusted 1.032 million annual rate, driven higher by a surge in apartment buildingconstruction, the Commerce Department said. Starts plunged by a revised 13.8% in March to 954,000. Economists expected April starts to drop by 1.4% to a 934,000-unit annual rate.

Written By: Dan Blew, Propertynut.com (with contribution from the Wall Street Journal)