 |
         
|
The fact that the housing market was marginally busier in February than it had been in January--even though it was still much slower than it had been twelve months previously--was enough for all three newscasts to assign a reporter to trends in residential real estate. "The worst housing market in memory may be thawing," were Betsy Stark's words of encouragement on ABC. CNBC's Scott Cohn suggested on NBC that "it is hard to resist" prices that are 15% lower than they were a year ago, especially with "interest rates at historic lows," although he did caution that most of the applications for new lower-rate mortgages "are for refinancing." Priya David was assigned to CBS' Bright Spots series, whose role it is to find glimmers of growth amid the recession. "The glut of unsold homes is being reduced," was how she put it, inspiring condominium construction in New York City and possible rehiring of laid-off construction crews in Oregon.
Let's not get carried away. "Prices are still falling, meaning the market has not hit bottom"--CNBC's Cohn. "With prices still falling many buyers are waiting on the sidelines hoping for what they hope will be even better deals"--ABC's Stark.
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.
