While browsing around the Internets I noticed that noted political (and fellow) blogger, FitsNews.com, posted about the nation’s housing market.   To throw in a disclaimer: I can’t endorse or dispute his stats.  That said, I can report from experience that… as in politics, all real estate is local.

Here’s what’s going on locally.  Coldwell Banker-Midtown’s sales board has run out of room once again. Amanda and I have closed a good amount of homes this year and have a lot of transactions “Pending Contract.”  Taking the local theme further,  we have four families renting at 42 Magnolia and one renting a home in Forest Hills, all of which are waiting on their perfect home to come to market.  What I’m getting at is the downtown Columbia, SC may be a small local real estate fishbowl, but it’s the bowl we’re in…and it’s kinda full.

While I’m not sure what the post is conveying, I’m fine with giving him the benefit of the doubt enough to ‘re-post’ his post.

Thank you!  FJ

“More On Housing “Recovery”

EXISTING HOME SALES SLIP … BUT THAT’S NOT THE REAL PROBLEM

Three weeks ago we did a post discussing the softness of the so-called housing “recovery” – focusing in particular on the stagnation of mortgage applications. More recently, we wrote about efforts by the administration of U.S. President Barack Obama to “stimulate” the market by approving loans to people who cannot afford them.

Which in case anybody forgot is exactly what started the current recession we are “recovering” from …

Anyway … according to data released this week from the National Association of Realtors sales of previously occupied homes dipped to 4.92 million last month from 4.95 million in February. And while that number is much higher than last year’s number, only 30 percent of those sales were to first-time buyers.

That’s well below the norm … and a bad sign for the sustainability of this market’s “recovery.”

In fact we can’t wait to hear Tyler Durden’s take on all of this over at Zero Hedge (yes, that Tyler Durden).

Wait, you’re not hip to the greatest site on the internet? Click here … “

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