Housing/Home sales continues to fall....
With mortgage rates rising and a surplus of unsold homes in the market, the housing market continues to slump. Many real estate agencies are looking at pricing cuts as the only way to clear the market of all of these unsold homes. In another MSNBC article I read, others are taking action by living with strangers, because the prices of housing are so high. Some analysts are forecasting that the housing market has yet to bottom out, and sales will continue to slow. What, if anything, can be done to help the housing market rebound?
2 comments:
The Marietta Times last evening reported that home interest rates are at an all-time low. Globally, the home-saling business may be taking a downslide, but in our area of the Mid-Ohio Valley, it seems to be doing somewhat better. My husband and I have been looking for a home and they're for sale all over the place. I guess we have asked ourselves why their are so many homes up for sale right now?!?!?
The main thing we've encountered is the homes we've looked at are all older homes that need refurbishng in some way, which will need additional monies sunk into them. It's been really hard to find a home in our price range that doesn't need a major overhaul in order for us to be happy with it.
[This comment is by Chunzi.]
The prices of housing depend on the locations. Like the housing in New York is one of the most expensive place within the US; the housing in California is expensive, too.
The prices of housing are always expensive to most of the people. For example, especially in New York, the price is ridiculous high as there are always more housing buyers than houses. Most of people choose New York as their top choice to looking for jobs and lives there although the rate of unemployment there is much higher than the average level in the whole country! More and more people and immigrates are moving into New York courses the incredible high price there. There is even no new house, almost all of the housings are used.
So the government should regular the prices of housing market and give a bottom line of market price or set up laws to the prices.
http://gb.cri.cn/2201/2004/12/20/107@397599.htm
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