Here, even the remodelers are without work. New home sales are non-existent for all intents and purposes. Older home sales a little better if the seller is willing to give it away. My original “Happy days are here again” comment was sarcastic. Foreclosures are down but still too high. That suppresses the crap out of the entire market. Foreclosures and short sells being scooped up by investors who are not willing to sell at today’s values. I believe in the future because with God’s Grace the American people will overcome this. Too bad we don’t have some help from the RINOs that keep rubber stamping 0bama’s agenda. But God and the American People are bigger than the opposition.
really??? lol
My son (24) has been pretty much unemployed for the last three years. He gets a job and they tell him this could work into something good--full time--but that isn't the case from what I see. Companies hiring temps but advertising full time positions just to get them through a big job with promises and shineons.
You are correct. As an investor I have no intention to sell. Rents are up, potential owner occupants lack cash, investors get the good deals with cash, demand is slack, inventories are down. Until the labor market improves, people fix their balance sheets, the analysis in the article rules. It will be at least three more years of this.
NJ is dead in terms of housing; whatever lies the government spreads about the unemployment figure, the fact is that jobs don’t move into homes - people and families do. We’re bleeding people profusely, only making up some of it with illegals; they are the government’s answer to the housing crisis (and by extension, the public education crisis - there are much fewer American students to fill the seats).