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Bargain hunting is boosting home sales, but inventories of unsold homes continue to worsen even in the face of February's sales increase. Buyers are snapping up bargains from the overflowing bargain bin, but that won't exactly make for a rebound.
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The X factor, as it always is with housing, is jobs. People without jobs have a tough time buying homes. People afraid of losing their jobs don't want to make major purchases. Given the still vicious news in the jobs arena, a meaningful recovery in housing just isn't in the cards anytime soon.
source:Rising Home Sales? Really?
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Just planking a trillion bucks on the table does't necessarily mean spring is coming in overall market. Still more bottom-fishing to come. The key driver will be more jobs and jobs again.
Comments: View Comments | Tuesday March 24, 2009
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