Foreclosures still behind in many parts of Florida because of so many defaults. However, the activerain Florida agents I’m in touch with say they’re selling just fine.
What does that tell you?
Until the new home market reaches a serious comeback, real estate is not significantly contributing to job recovery.
New home building adds labor. Resale homes do nothing particularly positive in that arena.
WILLIAM S. CHERRY & NO COMPANY
AMERICA’S WEALTH COACH
972 677-7028
Hi Bill, How are you?
I hate to disagree with my favorite economist, but...
Resales do add economic activity to an area, especially if those resales were foreclosures that needed rehabbing before being put on the market.
Plus if the resales represent new people moving into an area, the gross income for the area increases, which leads to higher retail sales.
It is that old saying, "a rising tide lifts all boats."
Bill Roberts
First, reports by AR agents of "sales are good" is a given. That said, it's just an example of personal promotion and often has no foundation in fact.
I would suggest that resales add significantly to the economy.
Real Estate Agents/Brokers
Home Inspectors
Title Companies/Attorneys
Surveyers
Pest Inspection Companies
Produces and services purchased by sellers out of the proceeds of the sale.
The home sold once and now the resale is contributing significantly to the economy.
Comments (2)Subscribe to CommentsComment