January – Jaw Dropping House Prices
30 January 2009
As the crisis in the housing market deepens, hopes of a swift end are fading fast as housing market figures put it at it’s lowest in years this month. Figures from the statistics boards show that prices are lowest in many years yet ordinary home buyers are still steering away from any purchases. This is due to fluctuations in other markets to which the housing sector is directly tied into. The financial market’s, banking sector and many other industries that are waiting on the housing market to recover. Mortgages have also managed to drop to all time low levels that has brought about some good news with figures for mortgage applications going up a bit.
This may be a sign that the bailout funds the government is putting into the industry and the homeowner’s pockets is indeed making a difference saving their homes and getting people enough cash reserves to start spending. Analysts have long been saying that it will be a long and painful recovery but in today’s real estate market any good news is welcome, just hope more is coming in the saga that is the housing market crisis.
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