Comments on: Too Many Existing Homes Keeping the Housing Market Down?

By: Geoff@San Diego Real Estate

Geoff@San Diego Real Estate — Tue, 21 Jul 2009 07:23:32 +0000

At the beginning of the year California allotted $100Million toward a $10,000 new-home buyer tax credit. The $100Million is now depleted. Buyers lined up in droves to take advantage of the offer. Combined with the $8,000 federal tax credit for first-time buyers, this was an $18,000 cash rebate on top of the already reduced prices. This goes to show what a little incentive can do to stimulate the market for new homes. Hopefully California will find the money in the new budget to continue the program.
Geoff@San Diego Real Estate´s last blog ..HVCC Kills San Diego Real Estate

By: Richard Jones

Richard Jones — Tue, 07 Jul 2009 15:45:09 +0000

In the UK we have seen a big rise in the rental market while people are trying to buy properties now while prices are low. It’s interesting to see how things are varying between countries.

By: Adam Alfia

Adam Alfia — Mon, 06 Jul 2009 23:10:31 +0000

Just a thought – the excess of homes means that there isn’t enough suitable demand. I say suitable since home ownership requires a lot of a person — but the real dilemma here is whether or not home ownership, in the traditional sense, is still part of the “American dream.” Perhaps demand is switching because it doesn’t make fiscal or economic sense for every person in the country to live in houses larger than they need, 25 miles from their employer.

By: Mike Taylor@Indianapolis Real Estate

Mike Taylor@Indianapolis Real Estate — Sun, 05 Jul 2009 12:04:00 +0000

It is ALL about the amount of homes on the market, both new and existing. Basic supply and demand will tell you this. What is crazy is to see the difference in the absorption rate across the country. Some areas are pretty normal while other areas have 2+ years of supply.

By: Sundream Estate

Sundream Estate — Sat, 04 Jul 2009 06:39:17 +0000

When it’s too many existing homes on the market with all extra tax credit, foreclosures and other thing, that press down the prices so a new homes is to expensive today.