Fed Market Committee Stated Housing Market Very Weak

By
Real Estate Agent with Elite Home Sales Team OC BRE# 02066030

As a matter of fact the Fed's Federal Open Market Committee stated the housing sector, which includes residential construction and homes sales, continues to be very weak.  It appears that the housing market was supported by the tax credit softened significantly from July to now. 

With the number of unemployed and under-employed households we find that here in the West there is a significant drop in purchasing.  There are fewer people willing to buy a home.  It makes sense when you have in the Western States, California, Nevada, and Arizona all with huge unemployment numbers.

As I have blogged before.  Jobs are the overall problem with the economy and the housing market.  As long as California has a job killing agenda we will force more and more employers out of state.  This will cause a worse problem for the market. 

It is difficult now that we are seeing the market slow down and fewer sales and even fewer buyers.  So, when you see a report that the Fed open market committee stated Housing Market Very weak you know why.

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Ambassador
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Pat Haddad, ABR, CRS, ePRO, GRI
Keller Williams Indianapolis Metro NE - Carmel, IN
Carmel, Fishers, Westfield IN Real Estate Expert

It seems pretty bad sometimes here in Indiana and then I hear about you out in California.   I know it could be worse.  Sometimes feels more like a depression than a recesssion!

Oct 25, 2010 06:26 PM #1
Rainmaker
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Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I know that the market is very weak and I did not need the Fed to know that.

Oct 25, 2010 06:50 PM #2
Rainmaker
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Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Pat

It really does not look good no matter what you call it.

Oct 25, 2010 06:51 PM #3
Rainmaker
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Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Tim

Boy do I agree with you on that statement.

Oct 25, 2010 06:52 PM #4
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