On low-balling. News from the front.
As a real estate professional watching the Suze Orman show the other night, I was disturbed to hear Suze encouraging buyers to put in low-ball offers due to the market. Now, I usually agree with most of what Suze has to say, but real estate is local and she often seems to forget that. As [...]
Boston Is One Out Of Five Bubble Proof Markets
CNN Money reported that Boston, along with New York City, San Fransisco, Los Angeles and Seattle is a “Bubble Proof” market. “Boston had the strongest wage growth of these cities through the tech bust and jobless recovery. Over the next five years, it will have the highest per capita income, next to San Francisco.” Source: [...]
U.S. Homeownership Rates Continue to Slip
The nation’s homeownership rate dipped to 67.8 percent during the fourth quarter of 2007, down from 68.9 percent from a year ago, the U.S. Census Bureau reported Wednesday. The rate has fallen steadily since the third quarter of 2006 when it reached 69 percent. The Midwest had the highest homeownership rate at 71.7 percent followed [...]
Home Prices Could Bottom Out in 2010
In this week’s cover story in BusinessWeek, several economists suggest that the housing market could get worse before it gets better. David Rosenberg, North American economist for Merrill Lynch, and Chris Flanagan, head of research in JP Morgan Chase’s asset-backed securities group, told BusinessWeek that home prices could drop 25 percent on average before bottoming [...]
