So... in other news. Why does the media hate the Jazz? I can't figure that out. Hubie Brown can't stand us.
Now this is really interesting. This is the top 10 states in % change of their population and growth. In other words, these are the states whose economies are either booming or dooming. It is good to see we are at the top. This is one reason why the recession shouldn't effect us too much.
Everyone wants to know how the market is. Have we been affected? Infected (yes, this year's Nile Virus will be replaced with the Amazon Virus)?
Higher priced homes have COME DOWN IN PRICE by about 10%. In the last 3 years your 300K home went up in value to 370. That baby has probably come down to about 349, maybe more (Still a 50K gain). We are seeing this all across the board. In the last 6 months, sales are strong and increasing, but prices have come down. Anyone who tells you different is a liar. For alot of sellers there is still a bunch of equity gain in their homes (for example if you bought 5 years ago). Many sellers who purchased in 2007 and are trying to sell are finding it very difficult (do I use parenthesis too much?).
I expect to see prices stabilize. We should see mild appreciation in most areas, some areas still need to come down, i.e. new construction, Herriman. Existing homes sales have picked up over the last couple months.
In other news... with the looming energy crisis on the verge of crippling the US, congress met and voted overwhelmingly to put the polar bears on the endangered species list even though pb numbers have gone from 5,000 to 30,000 in the last 25 years. Way to go congress, I'm glad you are hard at work. Meanwhile, gas approaches 8 dollars a gallon... stay tuned.