Jan
28
Is There Light at the End of the Tunnel When it Comes to Real Estate Listings?
Filed Under Real Estate
Although the news in the world of real estate has been uniformly bleak for the last half of 2008, there may be a glimmer of good news when it comes to real estate listings. This morning I heard on the news on NPR that the U.S. inventory of unsold homes has been steadily shrinking for the last five months. What does that mean to the housing industry? Well, once the inventory of unsold homes is exhausted, there will be more demand for new homes and the chance for the sale of new homes to start growing again. It’s crucial for Americans to begin buying new housing because the housing industry is one of the primary engines that grows the U.S. economy. More homes being sold means that companies like Home Depot will be selling more building supplies, which means jobs for Americans.
A rise in housing sales also means more jobs for carpenters, framers, plumbers, electricians, laborers, salesmen, and the management of housing construction companies. A rise in home sales will simply be good for America, which is one of the main reasons that economists and politicians watch the rise and fall of real estate listings so closely now. So let’s all keep our fingers crossed that America’s housing market begins to bounce back sooner rather than later. For more information on this hopeful phenomenon, check out this article I found in The Wall Street Journal: http://online.wsj.com/article/SB122226123307770911.html.
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3 Responses to “Is There Light at the End of the Tunnel When it Comes to Real Estate Listings?”
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Yeah, the tough part is that even though houses are selling for a steal now, who can qualify? Even my back-up qualifiers like my 401k is shrunken so much it doesn’t help anymore. Aside from that, I’m lucky I don’t work for the housing fields.
I agree with you Cindy, who can quality? The government better start stepping in with some answers, because soon enough we’ll have more renters than owners and no where for people to live. I doubt that will happen, but at least there will be alot of vacant homes around. People will need to start putting in alot of alarms, good time to start a security company? Ha!
When I was in school I took several real estate classes, and my professors were so amazed at the rising housing costs in 2005, that one even predicted that fall out. Japan had a similar thing happen, so I think we should look to their model to help us determine how to fix the US’s screw up!