lansing real estate: Median Home Prices Decline - The Positive Perspective - 02/15/08 10:18 AM
"WORST IN NATION: AREA HOME SALE PRICES PLUMMET IN 4TH QUARTER" (from the Lansing State Journal, 2/15/08)
This was on the front page of our local paper. Why do the news makers report the most outrageous stats? It's probably because "Shock and Awe" sells papers.
A more accurate line would be:
"Lansing, like almost every other city in the nation, sees declines in real estate values and reduction in numbers of sales in the 4th quarter. On the whole, Lansing is not down all that much when you really analyze what's really happening."
My headline is more accurate, I doubt if anyone at the Journal … (2 comments)
|
lansing real estate: The Key to Rising Home Prices - 01/08/08 03:30 PM
Higher Demand or Lower Supplies = Increased Prices
It's a basic economic principle that when supply increases, prices come down.
And, when supply decreases, demand can rise and prices will rise with demand. (a good resource is Basic Economics, by Thomas Sowell)
As Banks take over more and more properties in Mid-Michigan they will seek to sell them as fast as they can at what ever price they can get. This increased supply with low demand has slowed our current housing market. It will continue to slow down, until we see one of two things happen: Either demand rises (job creation - an … (2 comments)
|
|
|
|
;)
;)
