Contrary to the cheer-leading and spin going on the housing market has not hit bottom, recovered, is getting better, or turning around.
There can be no real housing market while jobs are wiped out, incomes are going down, and banking is hiding out. Period.
Desperation by sellers is reflected in the 50% off deals being struck, and the goofy signs going out. Like the one left - Reduced But Not Stupid Or Desperate. Wanna bet?
The most pathetic bunch are the For Sale By Owners crowd. Selling your own house is tantamount to doing brain surgery on yourself or being your own attorney in a murder trial. It may be tempting but it's suicide.
The dream of owning a home has been wiped out and young homeowners of the past are living with their parents, or worse, renting with ten others like them ten years after college. Sad.
But don't kid yourself - there will be no housing market while Obama fails to make real jobs and get incomes rising again. Assuming a housing market return just because it 'feels' like it's 'time' is lunacy. And if you MUST sell turn it over to a pro and figure out how you are gonna take less - a LOT less.
