Alan Greenspan is the former Fed. chairman and someone that knows more about United States economy than anyone in the world.
I tend to agree with him that 2009 will see the floor of this market and establish a baseline to absorb the extra homes and turn the corner. Also, it does not matter who wins the election in November. They will get the benefit of this and claim it was because of them. :)
Once the housing market makes an up tick, all those buyers on the fence will be ready to jump back in the market. This will revive not only the housing market, but will help the banks and world markets confidence in the underlying strength of our economy.
The last interesting concept is allowing more skilled workers in the country. They are the individuals that can afford to purchase homes.
http://online.wsj.com/article/SB121865515167837815.html?mod=residential_real_estate
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