Home-Prices Remain Stable

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Only 21% of house listings on the market as of February 1st had one or more price drop. This is lower than previous levels, and is a good sign that housing prices are beginning to hit a bottom. The next question home owners are asking is: How long will this bottom last, and how quickly will home prices rise?

House price reductions topped out at 26% at the end of last year, which likely relates to the timing of the November tax-credit deadline (which was extended). California homes were among the steadiest in the country. San Jose had just 12% of listings cut, and Oakland had 13%. The highest on the list was Jacksonville, FL at 36%. This good news brings on the expectations in manufacturing jobs for home builders.

To Be, Or Not To Be, Optimistic?

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Every day the media sends us mixed signals about the housing and banking markets. We hear that a new report shows that the real estate market will be turning around, then without even a commercial break the anchor tells us that the 6th larges bank meltdown has just occurred. Then we hear that Building expectations are optimistic, but mortgage rates are mediocre and credit is difficult to get.

What are we to make of all of these mixed signals? All I can say is that America has transformed from a beautiful marlin, leaping the oceans surface, into a bottom-feeding catfish. This just means that we are treading along the bottom of the market currently. American news resources do try to relay this message, but it gets muddled together with the good and the bad. Overall, things are improving and they are worsening, that always happens. Not much more can go wrong, lest we get into a catastrophic territory.

All I know is that right now, all Americans are effected and All Americans are worried. Our government needs to focus 100% on the coutries economic and internatioal woes, then once the recovery is complete we can argue over health care, and hold town hall meetings every night. This is madness.