Active Rain November 24, 2009

Case-Shiller: We Aren’t Out of the Woods Yet

Originally posted 11/24/09 on Active Rain

According to today’s Standard & Poor’s/Case-Shiller home price index, US home prices remain unsteady with more declines expected in some areas. Of the 20 areas examined, almost half experienced falling prices, including New York. While this is not good news, it is news and should be interpreted by our profession (and trade organizations) without rose colored glasses. You can read the NY Times article on the report here

We shouldn’t be surprised. The economy remains very slow, unemployment has probably not peaked, and the flood of foreclosures clogging the inventory will suppress prices for years to come.

Have you ever solved a problem without acknowledging that it exists? I never have, so the NAR should humor us with some all-too-rare candor. 

article continued here

What is relevant for 40-somethings is the need to be real. Pretense is immature and unneeded. Being real, and telling it like it is, is appreciated by clients and customers alike. People don’t want an agent who looks at the market through rose colored glasses, there is too much at stake. What they want is the truth so they can act accordingly.