My Thoughts on Cincinnati Ohio Real Estate and Housing Market and The Economy!

The Greater Cincinnati Market is not as bad as a lot of the country. The September sales units were down only 4.6% from September of 2007. Total dollar volume was down 9.3% from September 2007.The absorption rate is at 09.8 months a balanced market in Greater Cincinnati is about 4.5 to 5 months of inventory. Supply and demand. The active residential inventory is down about .5 months vs September 2007. There have been almost 15,000 sales in 2008 through September that's 15,000 buyers and 15,000 sellers. That averages out 57.03 houses sold for every day this year plus 57.03 buyers every day. Do you think the press or media would report any of this. No way! The media has perfected their art to such a degree they can control a country's whole attitude. In years past we only had 1 or 2 hours of news on 3 TV stations. Today we get bombarded with negativity 24/7. We have become junkies for them to feed off all the negative things they spew. The greed on wall street led to banks making millions and billions of dollars on loans that had high up front profits for the banks and then they unloaded them to Fannie Mae and Freddie Mac because they were a no lose proposition. But thenj the losses started piling up and then the loans started being called and then the credit restrictions got tighter and then nobody was left to buy the properties that were foreclosed on by the banks. Who would want them? The buyers paid too much in up front finance charges (The Down Payment Assistance Programs were some of the worst offenders!) The bottom line is we all need to be more responsible for out financial well being. If you don't have the cash to buy something besides a house, don't buy it! Americans are great for getting into debt and not having the self control to wait till they can afford something. It is hard not to do it. The media has 24/7 ads on big screen tvs telling us we all need the latest and greatest of everything that comes down the pike. We are constantly seeing or hearing commercials for every fast food restaurant around town. Maybe it is time like we tell our children about drugs, to Just Say No! The media has become so prevalent in most people's lives that they can create a self fulfilling prophecy. If they tell you day in and day out like they have been for the last 2-3 years that everything is terrible... It soon will be if we believe it. History has shown time and time again, It is now how things really are but how people think they are, that really determines the outcome of a situation. I believe America will be strong and vibrant again and many areas already are on their way but if the media gets to them also. They too could stumble. Americans just need to buckle down and do the best they can and make the smart prudent choices they know they should and exercise a little self control. We will be out of this mess before you know it. I include myself in the bad habits I mentioned above. But I am so positive about the potential we all have and the opportunities available if we just look. A new president and a new attitude may bode well for us all! Email: dennis@dennisking.com Website: www.dennisking.com