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Housing Market: Not Dead Yet

Posted by: Nate Berg

11 August 2009 - 8:00am

The housing crisis may be coming to an end, according to some nationwide indexes. And though prices are likely to continue to fall for about a year, some homebuilders are un-pausing their projects and moving forward.

"[T]here are signs in some places that we are nearing an end to the downward spiral that reduced house prices 32% nationwide and, according to the Mortgage Bankers Association, erased $3.5 trillion worth of home equity. New-home sales are ticking up, and for the first time in three years, the S&P/Case-Shiller home-price index, which tracks changes in home prices in 20 U.S. cities, has shown a monthly gain."

Builders now report focusing more on efficiency rather than volume.

Full Story: How the Housing Market Is Fighting Its Way Back
Source: Time, August 10, 2009
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Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
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