Blogwatch: The Housing Market Is Poised to Boom

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MIKE

Why would it boom? THe official unemployment numbers are at 10%. THe unofficial and considered the real figure is at 17% With that many people unemployed, they are not in the market. The new requirements to buy have made it much more difficult to buy a home. Many that qualified easily before cannot qualify now. Others still qualify but it is still more difficult for them. At any rate the number of those taht do qualify is smaller. Furthermore, many that could buy are in financial preservation mode. They are uncertain about new tax burdens, inflation, reduced retiremnt etc.. These are long term concerns as in years not months. Builders are not erecting subdivisions so how is it going to boom. For that matter the sales in durable goods (appliances, cars etc.) is still way down. Durable goods sales is still a primary indicator of the strength of the economy. Look at any department store or car lot. How much business is happening? Not much. This is far from over people.

October 28 2010 at 1:56 PM Report abuse rate up rate down Reply
Luette

No.......Nothing is going to "boom"

October 28 2010 at 12:48 PM Report abuse rate up rate down Reply