Is it here? Has it finally arrived? Is it the much wanted, needed, begged for light at the end of a bankrupt tunnel?
Is it, at last, our collective salvation from a year and a half of financial flu that threatens to turn people around the globe–or their investments at any rate–into dust?
Probably not. But now that I have your attention, it still is some good news, all things considered, of course.
In September, sales of new homes actually went up when most experts had predicted they would continue to go down. Surprise, surprise.
According to the Commerce Department, sales of new single-family homes went up by 2.7 percent!
But, there is, sad to say, bad news,too.
Median home prices, says the Associated Press report, dropped “to the lowest level in four years.”
So, there you have it.
For sure, some good news, but not likely enough to pull the world out from the ever deepening black hole.
And yet, it does give one hope (does that sound too much like Obama????) that maybe, just maybe, this mess will be with us for a much shorter period of time than previously predicted?
Maybe.
Photo Credit: Great Valley Center Image Bank
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- Renters Driven From Foreclosed Homes; While Cars Sales Skid
- Weak Retail Sales As Mortgage Crisis Puts Freeze On Consumers
- California “Dream” Goes Bad For Thousounds Of Homeowners
Article Author: Charles FeldmanCharles has written 179 articles for us.
Visit Charles's Website: http://www.thefeldmanblog.com
Charles is currently reporting for KNX Radio in Los Angeles, is the co-author of the book No Time To Think, and can be found commenting about the news on his blog, The Feldman Blog, as well as on The Huffington Post.
Joshua Dorkin
{ 1 comment… read it below or add one }
I think you are right to think there is hope. It did go up and that is a fact when no one said it would until it goes way down. People are recognizing the problem and no use being negative to the point of hopelessness, that never got anyone anywhere. I can not say how the present economy will go or what the end result will be but there will always be enough room for hope!