There is Good News
September 30, 2008
Everyone seems to be weighing in on Congress' failure to pass the "bail-out" bill. Representatives constituents were busy on the Internet letting them know that they should not bail out Wall Street. So the drama will continue.
I thought I would cite a small piece in the Sunday, September 28, 2008 LA Times newspaper.
On page C13, the heading of this 2*, one column piece read "Home sales in state jump 57%".
The article goes on to say "California home sales in August were up 57% from a year earlier; the first year over year gain in the current real estate downturn, the California Ass. of Realtors reported. Hefty price cuts continue to fuel sales-prices were down 41%."
Since much discussion went on about the need for housing to recover, it is good news that folks are actually purchasing homes and lenders are actually making loans. I suspect when I calibrate the data for September and for the first 3/4s of 2008, this data will also show that buyers are willing to buy when the price is right.
The article went on to suggest that we are entering the "slow winter season", but actually my experience has been that the weather in the Inland Empire is great, the scenery is beautiful and the real estate market only slows for the holiday season. There are wonderful values for sale and for the moment there is still a mortgage market.
Yes, there is good news in the Inland Empire.
Everyone seems to be weighing in on Congress' failure to pass the "bail-out" bill. Representatives constituents were busy on the Internet letting them know that they should not bail out Wall Street. So the drama will continue.
I thought I would cite a small piece in the Sunday, September 28, 2008 LA Times newspaper.
On page C13, the heading of this 2*, one column piece read "Home sales in state jump 57%".
The article goes on to say "California home sales in August were up 57% from a year earlier; the first year over year gain in the current real estate downturn, the California Ass. of Realtors reported. Hefty price cuts continue to fuel sales-prices were down 41%."
Since much discussion went on about the need for housing to recover, it is good news that folks are actually purchasing homes and lenders are actually making loans. I suspect when I calibrate the data for September and for the first 3/4s of 2008, this data will also show that buyers are willing to buy when the price is right.
The article went on to suggest that we are entering the "slow winter season", but actually my experience has been that the weather in the Inland Empire is great, the scenery is beautiful and the real estate market only slows for the holiday season. There are wonderful values for sale and for the moment there is still a mortgage market.
Yes, there is good news in the Inland Empire.
posted by shirley harry at 11:12 AM
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