Lucky me. Been on the road selling my company's program in various states...and the response is very favorable. We're outside the box thinkers...so it's not for everyone (some people just can't see outside their boxes). I don't use this forum as an overt solicitation for business, so I won't say anymore about my biz. On to the news.
The BBC reported today that pending sales of existing homes in the US fell in May to the lowest level in six years. According to this story, the NAR says that sales fell by 3.5% in May to the lowest level since September 2001. The article also quotes Morgan Stanley economist Kevin Flanagan as saying "I do not see a bottoming in the housing market."
Any predictions on the timing of a turnaround. I know many of you will say it's regional...some areas are doing great and some are at rock bottom. Fair enough. But on a national scale when will we see relief? Flanagan is quoted as saying "there is not a light at the end of the tunnel." I don't buy that...but I'm not sure the light is so bright...yet.
Link to article: http://news.bbc.co.uk/2/hi/business/6266470.stm
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