optimistic assessment
“Bottomed Out; The End is Here!”
August 20, 2009 by arhopper · Leave a Comment
-Consensus from RECON, Others on Housing Market-
“It appears we are at the bottom of the housing market in most Texas cities,” said Real Estate Center Director Mark Dotzour after reviewing the state’s latest home sale numbers.
“Housing affordability has never been higher. If you plan to live in the house for at least two or three years, now is the time to buy.”
“The Texas inventory of unsold new and existing homes is in good shape.”
“Zero Short-Term Rates Going Nowhere” -New York Times-
The Federal Reserve announced last week that it will keep its benchmark short-term interest rate at virtually zero for some time, while giving the most optimistic assessment of the national economy in more than a year, characterizing it as “leveling out.”
Mortgage rates should remain low as long as the federal government continues to purchase almost all residential mortgages. When they stop, rates will move up.
“If you are planning to build a home to retire to in the near future, now is a great time to do it. Contractors are plentiful, construction costs are lower and mortgage money is cheap,”
DFW Housing Looking Up-Dallas Morning News
“We are beginning to see some more positive trends in the housing market, which is great news,” said David Brown, head of the Dallas Metrostudy office. “Both the new home and resale closings during the last quarter suggest the market is bottoming out in sales volume.”
Houston’s Economy, Paychecks Flush –Houston Chronicle-
– Houstonians pocketed bigger raises than those in most other parts of the U.S., according to the U.S. Bureau of Labor Statistics. It was Houston’s relative prosperity and 8 percent unemployment rate that contributed to the area’s pay raises, according to Joel Wagher with Workforce Solutions.
