Why is the real estate market slow?
Well my thoughts are that the reason why Realtors and developers are sitting with large inventory and even pre-existing housing sales are in the slump, is because consumers are scared. I am not going to blame the media but they put out the story as it is no explanation just allot of numbers and we all know numbers can sometimes be confusing.
We have the lowest rates in 2 years 
The Chart above is a 2 year history of the Fannie Mae 6% Mortgage Bond. The lower the bond moves that means it has lower value therefore consumer has to pay more then 6% the higher it moves the 6% bond has a higher value therefore better pricing to the consumer. Kind of Confusing? yeah I know But that Proves my Point!
The Average consumer is completely confused of the economy in total especially in the Real estate Market!
We as professionals have to educate them
Here is what I think we still have going for us
•1) housing prices have not gone up since the so called meltdown
•2) Employment is still strong Remember that employment rates is a very strong indicator as to where the market is heading, Since the employee that earns and pay what's driving the market and not the investors that gamble and play.
So what is missing consumer education?
Remember that Matt Lauer is getting paid for bringing a story that's exciting not explanations That's Boring!
That leaves the bulk of the work for us so let's go out there and make a difference
Sincerely
Joel Silberstein
Thanks for sharing, Joel.
(Be careful with this information - it seems MMG is getting prickly about stuff)
Wish you a Merry Christmas and best wishes for a great year in 2008.
Tommy New York Certified Home Inspector Long Island NY Nassau/Suffolk Home Inspections
There is alot of people who played a part in what has happened to the market. And it will take some time to correct.
I do agree the consumer is scared. They hear all this bad news about the housing market and mortgage companies, so they cease the buying process; Americans have either lost, or are losing confidence. Another problem is that the consumer cannot obtain funding.
I don't agree with employment being strong though. Unemployment rates are down, but we cannot use that as a measuring stick since alot of the jobs are underpaying "jobs", not a career. I've met people recently who are starting the same type of jobs that I was working right out of high school, but their pay rate is less then what I was making right out of high school, which was 11 years ago. AND they are receiving no benefits! AND the cost of living and expenses are definately up from 11 years ago.
Joel,
Welcome back!
"I am not going to blame the media" I will consider it done.
Between the nive, the ignorant, the political opportunist, and their truly stupid followers, it's no wonder people are scared. It's a wounded we don't have rioters in the streets.
As to "Matt Lauer is getting paid for bringing a story" being a story teller does not make one a journalist. He's as much a journalist as Paul Bunion was when telling about the blue ox.
Don't know where you've been, but this is a good come back.
Bill