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| Don't know how many of you follow the reports on housing. Numbers being sold are bad, way bad. New home construction is at it's lowest point since records have been kept. Existing home sales are the lowest they've been since at least 1995. Now, I've been following the market locally with just kind of passing interest. What I'm noticing, is that there are houses that have been on the market for two years, mainly unoccupied, where the asking price hasn't dropped one Iota. I'm told that the same thing is true in the small college town/city an hour away. So, I'm wondering what gives here. At some point are the folks holding these homes gonna head for the exits and lower prices? Are they counting on the "economic recovery" to bail them out? Do they have enough money that it doesn't matter if they have a couple hundred thousand tied up in a home? | |
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Housing Market.
