I GUESS BEING POSITIVE IS THE FIRST SIGN OF SOME SORT OF RECOVERY!

 

 

 

Despite high unemployment rates, low consumer confidence and a sluggish housing market, the latest recession has been declared officially over by the National Bureau of Economic Research. 

Now, William Wheaton, professor of economics at Massachusetts Institute of Technology, believes the housing market is due to take off, calling it "a sleeping giant that is about to wake up."

Wheaton argues that because there has been so little new-home construction that demand exceeds the level of building and it will soon absorb excess inventory.

Here in Utah, James Wood, director of the Bureau of Economic Business Research, estimates that 20,000 new households are being created statewide because of marriages, divorces and unmarried children leaving home. But the inventory of housing units is only increasing at 10,000 units.

"Housing construction will not only rise, but it will stay high for a while, which didn't happen in previous recoveries," Wheaton said.

Bill Heiner, president of the Salt Lake Board of REALTORS, talked about Salt Lake's housing market in a live interview on ABC-KUCW on Sept. 23.

Heiner said August's home sales were down compared to a year ago, but that sales in the first eight months of 2010 were up 2 percent compared to the same eight-month period last year.

Most home sales in August, Heiner said, occurred between $150,000 to $250,000.

As for my self the Fall market has been slow. Although this time of year usually is. Lets hope things pick up as predicted. 

Winston Churchill once said " A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty"