I couldn't help but notice that 'falling home prices' was a major trending topic today. There were at least 10 articles in my stream in addition to multiple TV and radio news reports stating that the housing recovery was completely concocted (by the government or otherwise) and that things are far worse than we all thought. After reading all the major synopses I was struck by the same lack of important details, which prompted me to leave a few comments in the local online paper's pool of angry shark comment-leavers. At this point, no one has written anything specifically hateful to me. Here's my comment on the Pioneer Press http://www.startribune.com/business/112546709.html :
The data in this article is skewed by the fact that it doesn't differentiate between foreclosure and traditional markets. Banks are letting properties go for rock bottom prices, and that's a good thing for new homeowners, rehabbers and investors, but of course lowers the average sale prices for all homes. When the sale data for the two markets is separated the damage to non-foreclosure home prices is much less severe. I've seen many homes sell quickly and for decent prices, even after the tax incentive expired. And let's not forget that with or without tax incentives/interest deductions, home ownership is still better for the health of the neighborhood and the general maintenance of the home.
Pretty much, enough said. But call me if you want to talk more - coz as usual, I know what I'm talking about. And one more thing that Britney Spears would likely agree with, media hype is often bullshit.