According to Jan Hatzius, chief economist of the Goldman Sachs Group in New York, the U.S. housing market could, finally, be approaching the bottom. And that’s good news: “Over the next few years,” says Hatzius, “the housing sector is going to improve” although there is still “a lot of excess supply out there.” Other analysts agree, saying that since “the economy doesn’t seem to be falling off any more,” sales in many areas around the country will likely level throughout 2011 and could slowly climb in 2012. I believe that this is a bit delusional by its own statement. How can there be excess inventory and signs of a recovery in real estate?? Simple laws of supply and demand dictate that where there is excess supply, there will be lower prices (except in oil - LOL). Most buyers and sellers that I speak to feel that the real estate market is still weak. Naturally, some markets will improve earlier and faster than other; just as some markets were damaged more and sooner. What do you think??
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Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland
HA! Since when did Goldman Sachs publish anything not designed to enhance their own image. They must have a new and improved MBS up their sleeve ready to release on the investing public.
Housing is moribund and there is no other way to describe it.
Mar 18, 2011 11:40 AM
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate
Paddy, and this guy actually gets paid to come up with stuff like this. And... just one more "wide brush" statement that paints hundreds of markets that are ALL different... with the same brush stroke. Thanks, Goldman Sachs !
And Paddy... with a name like Paddy Deighan... I am guessing you had quite a time celebrating St Paddy's Day ! How cool. And... I just noticed, and apologies in advance for any reference to a stereotype statement, but how cool for your office to be on Potato Patch Drive. < smile >
Mar 18, 2011 11:47 AM
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate
By the way... I see that you have been writing blog posts for about a year now, and that you seem to write well. I also see that you get very few comments... which is unfortunate. I am sure that others would be interested in reading your posts... if they only knew of their existence.
One problem is that you only belong to one of the Active Rain Groups. I suggest that you need to belong to at least fifteen of them.
Active Rain encourages you to "include" each of your posts in as many as five Active Rain Groups. The more groups you include your posts IN... the more sets of eyeballs each post is seen by, and the greater the probablility of more readers, more comments, and perhaps more actions or decisions by them that may benefit your business.
Here is a tutorial post that I wrote... Using the Active Rain "Groups Feature". I have had many Active Rainers, both Newbies and Oldbies as well, tell me this post was helpful to them. I invite you to click on the link, and read the post. I hope you find it helpful. Have a great weekend.
Mar 18, 2011 11:56 AM
Grants Pass, OR - Bend, OR
The Savvy Broker - ABR, CRS
I was beginning to believe it until I sat down and did a spreadsheet on our local stats... the number of closings are up, but our local median sales price is down 22% from last year. Not a great way to start the new year.
Mar 18, 2011 01:30 PM
http://www.medicalandspaconsulting.com - Vail, CO
Paddy Deighan J.D. Ph.D
I don't know anyone..except for a few select markets, that feels that the real estate market is improving. Yet we continue to hear that it is?? I see rampant denial about values (especially in orange County, CA).
Mar 18, 2011 07:41 PM
Rainmaker
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806,988
Paddy Deighan MBA JD PhD
Paddy Deighan J.D. Ph.D
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Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
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