Prices continue descent, but there's still construction
From Curbed.com blog
By Curbed.com, Wednesday, May 27, 2009.
Nevermind the endless march of housing numbers, the latest saying that housing prices were down last month by 30 or so percent (compared to numbers last week that said 40).
One California firm points to the rise in sales of single-family homes as proof that the state's $10,000 tax credit for first-time homebuyers is working. Others think a state with moths streaming out of its hole-ridden pockets should hardly be extending such credits, encouraging "new construction in a market where foreclosures are still rising and prices continue to fall." Says one dissenter: "It's so stupid it's amazing to me."
Reposted with permission from Curbed.com. Click here to view original post.
Copyright (c) 2009 Curbed.com LLC
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Submitted by Joe Loomer on May 27, 2009 - 5:33am.
Georgia passed its own version of a homebuyer tax credit on 11 May - and it's not limited to first timers and income.
One of the requirements is the home purchased must have been either on the market on 11 May or in pre-foreclosure on that date. Smarter approach designed to reduce existing inventory rather than encourage new construction.
Augusta GA Homes
Submitted by Jeff Manson on May 31, 2009 - 9:44am.
Prices should start to stabilize as the number of sales increase and the inventory shrinks. We are going through a normal price adjustment after such a huge run up.
Jeff Manson
American Dream Realty Hawaii
Hawaiis