Local Buyers Find Foreclosures Via Tour Bus at DCist.
The upcoming MRIS numbers for March will be probably lay to rest the notion of spring RE recovery in the DC area.
Numbers for March 31st, 2008 from the VirginiaMLS show that the active listings are up 22% in Northern Virginia compared to last year.
Stop the Mortgage Bailout! whose "site is dedicated to stopping the government's planned bailout of the housing market. A bailout requires responsible Americans to pay for the acts of greedy bankers, mortgage brokers, flippers, and over-extended homeowners."
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"Stop the Mortgage Bailout" sounds like sour grapes to me. It's not like they didn't know this could/would happen. We were talking about this possibility on here a couple years ago. (And the real estate agents and main stream media were telling us to "buy now".)
ReplyDeleteThe bailout may not be "fair" but neither is the alternative the blog is proposing. The so called "correction" is anything but. It is a recession looming ... and a recession doesn't do anyone any good ... be they existing homeowners or hope-to-be-homeowners. The government is taking the only route it can. And that's the point of all this. Whoever thought things could ever be any different than they are is just fooling themselves. Economic events such as the recent run-up in house prices are beyond the control of you or me.
"The upcoming MRIS numbers for March will be probably lay to rest the notion of spring RE recovery in the DC area."
ReplyDeleteThere were 11 days of Spring on March. And in February, prices in DC were up year over year. Are you sure you're not a paid spinner?
Interesting in that for the latest date available (Mar 31) Alexandria's total inventory, while higher than 3/31/07 is actually lower than it was on 3/31/06. Probably just an anomoly but interesting nonetheless.
ReplyDeletelance said: It is a recession looming ...
ReplyDeleteEconomic events such as the recent run-up in house prices are beyond the control of you or me.
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I thought on this blog a while back you rediculed those who said a recession was coming and pointed to stock market gains as proof.
I am sure someone can find that post.
Economic run up in house prices beyond control?
Hah, you have been saying for years it was natural supply and demand and this was the next Manhattan.
Now it is a "run up" that was out of control?
Just keep slapping that keyboard lance, it is good comic relief.