Posted on December 23, 2009
Glass Half Full or Half Empty?
Dec.23, 2009
OK! OK! I know no one likes cut and pasts in a blog, but this confluence
of ideas about the reality of the real estate market is tooooo good to pass up,
so I got out the scissors.
Another Big Gain in Existing-Home Sales
Existing-home sales rose again in November as first-time buyers rushed to close sales before the original Nov. 30 deadline for the recently extended and expanded tax credit, according to the NATIONAL ASSOCIATION OF REALTORS®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.
New-home sales crater as subsidy wanes Inventory of unsold homes falls
to 38-year low
By Rex Nutting, MarketWatch (wsj)
WASHINGTON (MarketWatch) -- Sales of new homes fell 11.3% in November to a seasonally adjusted annual rate of 355,000 as a popular tax break for first-time homeowners was set to expire, the Commerce Department estimated Wednesday. It was the lowest sales pace since April and followed months of steadier sales boosted by the tax break that was set to expire on Nov. 30.
So, there is really no conflict here, just depends on what the agenda and or perspective of the writer.
I like to think of how we view the world through our own eyes, shaped by our past. Which serves you the best? How much are our eyes programed by the propaganda we take in from the media?
If you need a new or newer home and have the money and prospects to pay for it, then buy it, if not, then don't. The First time homebuyer $8,000 tax credit was extended into 2010 and a $6500 tax credit
was added for other homebuyers. Take advantage of them!
