Comments on: Down Go Home Prices! Economy Still Awaits Jolt From Real Estate Market To Begin Recovery

By: Susan

Susan — Sun, 17 May 2009 13:08:11 +0000

Let’s face it, housing prices were out of control. Too bad it had to get so bad.

The first-time home buyers tax credit does seem to be stimulating the real estate market in New Jersey. I understand they are now allowing the buyers to use the tax credit towards their down payment.

By: nicky

nicky — Fri, 15 May 2009 05:06:36 +0000

Yes, All the Banks and Financial Institutions are not encouraging lending against RE. The credit policy of RBI also do the same except for the Home Loan. The input costs also climbing northwards not found in the past decades.

By: Christian

Christian — Thu, 14 May 2009 18:20:28 +0000

Why do so many people look to real estate to lead us out of the recession? Even Charles McMillan says this. I wrote about it here…
http://www.myonehundredthings.com/2009/04/my-response-nar-president-charles-mcmillan/

Anyone who believes this needs to look at history. The sector that lead us into a recession is almost always the LAST sector to recover.

Christian’s last blog post: Tony Robbins Talks About the Economy and Opportunity

By: michelle

michelle — Thu, 14 May 2009 05:06:28 +0000

Businesses are downsizing. I hear the there are a lot of vacancies in the Sears Tower — because it was a possible target during 911 people don’t want to lease there.

By: charles

charles — Thu, 14 May 2009 00:13:28 +0000

It's not that lower prices in and of themselves are a bad thing...they are not. Rather, it is the reason why the prices are so low...it is a symptom of a patient still at death's door. So, yes, lower prices for housing would be a very good thing...but it has to be for the right and not wrong reasons--in this case, because more and more people are losing their jobs and foreclosure rates continue to rise. charles’s last blog post: Recession Ending, Some Say; We’re Being Played For Fools!

By: Britt Gillette

Britt Gillette — Wed, 13 May 2009 19:40:05 +0000

It’s funny… Whenever other prices decline, such as food, clothing, gasoline, etc. the media touts it as a great event. So why should real estate be any different?

Lower prices are good. Good for new homeowners. Good for investors. Like you say, the only way to get the homebuilders and their construction crews back to work is if people start taking out loans again. Before they do that, we need more realistic housing prices…