Tuesday, March 23, 2010
The housing market is still in bad shape, but investors do not seem to mind.
Although this week brings reports on sales of new and existing homes in February, there are no signs of heightened concern in the stock market. That's a big change from one and two years ago, when the numbers were frequently horrific enough to send investors running.
In recent months, traders have shrugged off some unattractive figures. The reason: Steadying home prices are good sufficient for now.
Even hesitant stability is welcome news after price drops of more than 50% in some markets. The number of foreclosures is still going up, but at a slower pace. That's letting the real estate market absorb the added supply without sending prices increases.
Many investors think that housing won't cause more enormous problems for the economy if prices hold.
posted
by World House Info @ 12:14 AM
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