Mitch Roschelle, partner at PricewaterhouseCooper, which focuses on audit and assurance, tax and consulting services, posted on Twitter “Like I have been saying – you can’t buy a home that’s not for sale.”
But despite the low pending home sales report, another expert disagrees with that notion, claiming the upcoming Spring home buying season will be hotter than ever.
“Based on realtor.com’s inventory and traffic in February, we are anticipating another month of record prices, record low inventory, and record inventory movement,” company Chief Economist Jonathan Smoke said. “Buyers have started the spring buying season early to get their dream home before competition grows in the traditionally stronger spring season – but competition is already heated and will only continue to become more intense.”
SOURCE: Housing Wire
Let’s keep an eye on this trend between now & early 2017. There are some big changes on the horizon. Housing inventory is very low & lenders are working with borrowers to avoid foreclosures.
Most professional books that are on my bookshelf are not what I would call recreational reading. It seems to me that a better idea would be two different categories of reading, professional and recreational book lists.
PROFESSIONAL READING LIST
- The Wall Street Journal
- John Mauldin’s weekly investment & economic newsletter, “Thoughts from the Frontline”
RECREATIONAL BOOK LIST
- The Choose Yourself Guide to Wealth by James Altucher
- The Miracle Morning, the Not-So-Obvious Secret Guaranteed to Transform Your Life Before 8AM by Hal Elrod
- Transitions, Making Sense Out of Life’s Changes by William Bridges
This post will be updated periodically.
A recent article in Bloomberg News titled “Can You Trust Statistics on U.S. Housing” points out that the stats generated by the government are actually more like looking in the rear-view mirror due to the nature of the process of buying a house which can take months of preparation, actually viewing properties and then the negotiating and closing.
I would add that certain stats purport to measure the same thing, but have different methodologies. You definitely need to know the basis for measurement. By the time the numbers show a definitive uptick indicative of a trend, you may already be behind the curve.
Better to watch and analyze true job growth and where it’s happening!
After digesting the financial news lately, I wonder if people will have to choose between being able to pay their bills/taxes and having children?
All of these new taxes have stealthily crept up on people who have decided to become full-fledged members of civil society, complete with kids, jobs, bills….and now they’re facing a future where the rules of the game changed midstream. A general undercurrent I am hearing is that people are tiring of it or they’re just in denial that they’ve been had. Happy talk, no negativity, all of that is good because we are all going to need as much good health, friendship and serenity as we can find.
However, there are certain laws and regulations in the real estate and financial industries which are likely to cause a complete collapse in the those industries. More on that later.