I just finished the USA TODAY dated January 16, 2008. The paper states that the housing market should be better by early 2009. Then the next article states that the market is going to get worse because of the Baby Boomers. Confused...well so is the rest of the country. Looking at both articles, you need to read between the lines. There are areas in the housing market that are bad, really bad. California, Arizona, Nevada, Florida, Ohio, Michigan. Which makes a ton of sense. The West and Florida are nice warm areas, they had great gains in the early 2000's. It was the place to be. Michigan and Ohio...well...they have... Big Ten Football. These states have lost jobs in manufacturing and auto making.
People in the Michigan and Ohio would like to retire in nice warm areas. These people are Baby Boomers, some have already bought there 2nd home and/or Vacation home. So with less jobs and these boomers about to retire, they need to sell one or two homes. So the article makes sense. There could be more homes available for sell.
So what does this mean to me? It means opportunity, it means you need to find a Realtor that knows their market? Each market is completely different? Just in Colorado Springs, Woodland Park and the Pikes Peak Region there are many different markets in each area of the Pikes Peak Region.
So here is the opportunity, the Fed is suppose to drop rates again soon, by maybe 3/4 of a point, and is recommending to President Bush to give the taxpayors a credit/rebate of $800 per individual and $1,600 to married couples. Be ready to buy your piece of the American Dream, and get a home for investment or vacation get-a-way.
