Hi Everyone,
I thought this analogy was "sweet"!! Relate the current housing market to a children's classic and here's what you get!!
See what you think as you eat up your oatmeal this damp November morning.
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Economists now suggest the market has seen its bottom and, as BMO Nesbitt Burns deputy chief economist Douglas Porter put it, may be having its "Goldilocks moment," not too hot and not too cold.
"Heading into 2011, sales and prices appear better supported than we last forecast in September ... The stabilization and ensuing uptick in resale housing activity should also help to limit the downside risk to the overall economy. On the flipside, subdued employment and income growth in the quarters ahead should act to cap the housing market’s upside in 2011."
Mr. Porter said the market is approaching "something closer to normalcy."
"Sales are still down heavily from the piping hot pace of a year ago, but they are close to average levels since 2000," he said.
"And, prices are up just slightly from a year ago, while the inventory of unsold homes is close to typical. In other words, there’s not much here for either the wild-eyed optimists or the ranting pessimists, which is probably a good thing."
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Hope your day goes "just right"! And let us know if there are real estate questions on your mind.
Jeri
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