The latest S&P Case-Shiller statistics are out and should be required reading for all of us. Don't know about this?
http://en.wikipedia.org/wiki/Case-Shiller_index
We should have all been very nervous when the index went from 79.61 in 1996 to 188.66 in 2006, up 13.7%/year for each of those 10 years! A drop to 155.32 this year is ONLY -8.8%/year. Those with money in the stock market would kill for this "minor" drop :)
I have been listening to the news as I write this and can't stand the negative slant that the news reporters put on these statistics. I'm a "glass half full guy".
Look at your markets. Are prices low enough to be a good deal for investors? Do entry level homes make sense for first time buyers? New household formation did not cease in the past couple of years, so there are lots of folks who are ripe to buy a home. They just need someone to tell them that NOW is a GREAT time to buy. No, the bottom may not be here, but there are great deals to be had.
Comments(0)