The National Association of Realtors has been caught manipulating housing data to over-represent optimistic housing numbers. Despite wishful recovery talk, housing and the economy remains stagnant. Some predict unemployment will soon surge again above 9 percent. “The latest weekly Mortgage Brokers Association… [statistics] showed that refi applications were down 4.8% W/W, while purchases slid 2.9%, after collapsing 8.4% in the past week.” Bear in mind that this is happening while mortgage rates are at record lows, which is supposed to be enticing buyers. Low rates are failing to provide the desired (and predicted) effect.
It’s a sad state of affairs. You can help improve my economy by getting your property surveyed. But feed your family first.