Monday, August 23, 2010
Housing Fades...
Good article in the New York Times today on housing, not so much for the content, but because it demonstrates how hopeful people still are about the housing market. There are lot's of quotes from people recognizing that it's going to take a while to recover, but in their next breadth, they're still hopeful. It takes a really long time for excesses to work through the system. The moderate recovery or flatlining, whatever you want to call it, has come with interest rates continually hitting all time lows. I'll believe there is some type of housing recovery when I see prices going up in the face of rising rates. That's when you know there is real demand.