In a bad economy, Real Estate is still a solid investment
Posted under: Home Buying in Erie
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October 30, 2008 2:00 PM |
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Home File In a bad economy, real estate still a solid investment PAM PARKER is the editor of Lake Erie LifeStyle Magazine. You can reach her at pamparker@lakeerielifestyle.com.
Blip. Blip. Dip. Deeper dip. Blip. The heart-stopping stock market graphs we've seen this week are enough to make everyone sweat. As stocks dropped to five-year lows, its begun to look like safe investing involves the old cash-under-the mattress savings plan. But, wait a minute. Before we sock cash away in our underwear drawer or bury it in the bookcase, we need to remember that some things, other than gold, do hold value. Some investors are pumping dollars into the housing market.
On Wednesday, the National Association of Realtors announced that pending home sales activity in August surged more than 7 percent over July as buyers took advantage of low home prices and affordable interest rates. Take that stock market.
There a complex explanation of the pending home sales index, but here's what it means to you and me: In August, pending sales jumped from the month before and even beat the numbers in August 2007. No one expected it, and let's enjoy it because the chief economist for NAR thinks we'll see a few slow quarters before improvement really hits the real estate market in 2009. And, yes, new-home sales will continue to drop since inventory is still high, but thats not new.
The bottom line is the local realestate market isn't hitting five-year lows.On the contrary.
First-time home buyers are hesitant, but seasoned buyers know that real estate is a good investment,said Loretta Dwyer Schaal of RE/MAX Real Estate Group.
She and her business partner/cousin, Nedra Dwyer Lehrian, noted that there is no panic in our part of the world. We still have buyers in every price range, Lehrian said.
To read the rest of the story please visit :
This Article was Provided by Pam Parker , Erie Times News House to Homes Real Estate Section 18H October 11,2008
Blip. Blip. Dip. Deeper dip. Blip. The heart-stopping stock market graphs we've seen this week are enough to make everyone sweat. As stocks dropped to five-year lows, its begun to look like safe investing involves the old cash-under-the mattress savings plan. But, wait a minute. Before we sock cash away in our underwear drawer or bury it in the bookcase, we need to remember that some things, other than gold, do hold value. Some investors are pumping dollars into the housing market.
On Wednesday, the National Association of Realtors announced that pending home sales activity in August surged more than 7 percent over July as buyers took advantage of low home prices and affordable interest rates. Take that stock market.
There a complex explanation of the pending home sales index, but here's what it means to you and me: In August, pending sales jumped from the month before and even beat the numbers in August 2007. No one expected it, and let's enjoy it because the chief economist for NAR thinks we'll see a few slow quarters before improvement really hits the real estate market in 2009. And, yes, new-home sales will continue to drop since inventory is still high, but thats not new.
The bottom line is the local realestate market isn't hitting five-year lows.On the contrary.
First-time home buyers are hesitant, but seasoned buyers know that real estate is a good investment,said Loretta Dwyer Schaal of RE/MAX Real Estate Group.
She and her business partner/cousin, Nedra Dwyer Lehrian, noted that there is no panic in our part of the world. We still have buyers in every price range, Lehrian said.
To read the rest of the story please visit :
http://daily.goerie.com/Repository/ml.asp?Ref=SFRILzIwMDgvMTAvMTEjQXIwMTgwMA
This Article was Provided by Pam Parker , Erie Times News House to Homes Real Estate Section 18H October 11,2008
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