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Originally Posted by Peazoup
tkret,
Bummer of an article but I like to think positively and pick up on "little sparks".
Hopefully, with a new administration...............????
An eternal optimist.
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If it feels good to be "an eternal optimist", great-go for it! I truly hope that your feelings turn out to be right on the money. News today, however, indicated that the unemployment rate continues to increase to a 5-year high of 6.1%. Take a look at what this guy has to say:
"This was an ugly number that pretty much confirms that our economy continues to trend downward," said Jack Ablin, chief investment officer of Harris Private Bank. "I had thought things were stabilizing, and this just knocks the legs out of any hope of seeing much economic improvement right now."
And the number one culprit continues to be the housing issue. Consumers are tightening their financial belt because they are feeling less wealthy. When will housing stablize? Who knows but one thing is sure; there are plenty of Villages wannabees but until they sell their homes elsewhere they won't be buying anytime soon in TV.
Two things should be considered: first, as the developer continues to build and sell new inventory, this puts pressure on home sellers to price correctly the home they are trying to sell; and secondly, in every housing market, and TV is no different, there is always the threat of a "stealth" resale market. That is, there are people who wish to sell and are holding off listing until the market improves. If the market takes too long to improve, these people cannot wait any longer and, for their own reasons, are forced to list their home adding to the inventory already on the market. It's a buyers market and price rules.