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Fresh look at the CA housing market

August 23, 2011

…Ms. Schucman was the Columbia University clinical psychologist who “scripted” A Course in Miracles. Many are hoping for a miracle to send the housing market into recovery, but Ms. Schucman says we only need to look at a situation properly to find an opportunity. A proper look at the housing market shows there’s plenty of opportunity, in the form of unbelievable affordability, tremendous values and historic mortgage rates. These opportunities are there for those who take a long view and close their ears to the naysayers, who have been noisy of late.

Plenty of naysaying came after last Thursday’s July Existing Homes Sales, down 3.5% to a 4.67 million annual rate. This was puzzling given recent strong Pending Home Sales (homes under contract). The National Association of Realtors said cancelled contracts were at higher levels the past two months, with buyers rattled over the debt debate. Yet Existing Home Sales are up 21% over a year ago. And Housing Starts are up 9.8% over a year ago, at 604,000 annually, although dipping 1.5% in July.

BUSINESS TIP OF THE WEEK…When you’re striving to innovate, don’t be afraid to fail. To innovate, you have to attempt things that haven’t been done before, so you very well may fail on the way to creating something great.
Courtesy of George Hagar
Mortgage Loan Officer
4 Venture #100
Irvine, CA 92618
714.309.5665 | P
877.895.1813 | F

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