An article by Floyd Norris and Peter S. Goodman in yesterday’s New York Times paints a grim picture of real estate trends in the U.S. Here’s some food for thought:
- New home construction has fallen by 40 percent since in 2006.
- New home sales have plummeted even faster.
- The large inventory of unsold homes could depress home prices another 15 or 20 percent before the turnaround comes.
And to make it all more troubling, the authors of the article wonder out loud whether lowering interest rates again will do anything can to strengthen the economy in the short term.
Please take a moment to tell me about the real estate investment strategies that you are applying to stay strong in the current market.
We can all profit from one another’s best ideas – and maybe we can avoid some costly mistakes too.