Yesterday at our sales meeting, Hank Perry, President at Empire Realty, led a really interesting dialog about where we've come since last year at this time. Here are some of his thoughts:
One Year Ago....
- The Bush administration and Congress step up talks on a historic $700 billion bank bailout-racing the clock to stem further financial market turmoil, with overall commitments topping ten trillion dollars. (CNBC)
- Birth of TARP
Then and Now!
- Foreclosure in CA takes dramatic turn, rises to 3rd highest in US
Meanwhile - confidence in stock market turns around during Q2 and Q3 2009 (DOW hits high 9/22/09).
AIG failure gives the insurer no choice but to be a US Taxpayer entity.
Low mortgage rates, high affordability, and the government's $8,000 tax credit for first-time home buyers have helped stabilize the market. . . . but the flurry of activity masks uncertainty about the long-term outlook. (CNBC)
Posted by Katie Lance, Marketing Manager, Empire Realty Associates
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