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The Urban Land Institute’s 2010 “Housing In America: The Next Decade”

It is important for all of us to deal with reality in the midst of one of the biggest housing crisis in decades. You know I am looking for ways to make lemonade out of lemons in all aspects of my life.  So, I don’t know how I missed this very important report regarding the 2010 predictions outlined in Ronald Terwilliger’s research paper Housing in America: The Next Decade. The report was presented at the January 26, 2010 meeting of the Urban Land Institute Trustee meeting.  One of the key authors was Ronald Terwilliger – the chairperson of the Urban Land Institute.  There are many different aspects of the report you will want to read so take some time to do so.  Mr. Terwilliger writes about two major hurdles the 2010 housing market is experiencing in 2010.  Here is a brief review of both points. Read more

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September U.S. Home Sales UP 9.4%! An East Bay Real Estate False Indicator?

Jim Walberg states that all real estate is local, remember? The Bay Area home sales for September were up 8.4%.  It doesn’t matter what the National averages are, it only matters what the stats are in our local market.  And within our local markets are niche markets.  Do you really care about what the statistics are in Kansas City?  No.  What you care about is what is happening with home sales in the East Bay real estate markets.  But, here is the info from September’s home sales anyway.  Last month was the largest monthly increase in home sales in the U.S. in the last 26 years!  That is great news for our economy.  I believe that the reason why September was so robust in home sales was because of the panic that the Home Buyers Tax Credit was ending on November 30^th.  ( We now know that Senator Harry Reid is authoring a bill to extend it to April 30, 2010.) The September jump in homes sales revised the projected home sales for 2009 to 5.57 million!  “There’s a mini-boom going on in the housing market,” said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm. Read more