Housing
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Latest Housing News & Analysis
Most Popular HeadlinesGap Widens Between Stable and Recessionary Housing Markets Houston the Current Hot Spot for Housing; Riverside and Miami take Hardest Hits U.S. housing starts take a bad turn in October, probably due to tax credit uncertaintyTax credit boosts October existing home sales 10%
Several other factors contributed to the sales gains in recent months. Antidotal reports suggest a pickup in condo sales. Some developers have held auctions to cut their inventory and raise cash. Others have negotiated deeply discounted sales of large blocks of unsold units to investors whom believe that they are paying low enough prices to realize large capital gains from sales in 2010. In both cases, most of the added condo sales are ownership changes but still leave a vacant unit available for sale and do not generate a need to start a new unit to replace the sold unit. These ownership changes recognize losses and establish a new lower base price for new owner. This is a necessary move … |

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