Tuesday, February 20, 2007

Old News from Big Sources?

The New York Times editorial column has decided to jump onto the ‘doom and gloom’ real estate bandwagon with a recent editorial about slumping home prices.

The article, printed February 17th, relays many of the facts that we already know. The record-breaking slump in 2006 after record-breaking rises during the previous two years. Nearly half the nation’s top 150 markets recording falling prices. The rising inventory and slowing new construction. These are all factors of the stymied market that anyone who’s remotely involved in real estate already knows.

But does that mean the market is unfruitful? Well, not necessarily. The editorial board chose to use its pedestal to plead to lenders and regulators not to raise mortgage rates and further instigate mortgage defaults – but maybe that’s preaching to the choir. Instead, why not take power in your own hands to help right the ship? There are markets that are still warm out there, money to be made, homes on the rise – if only you know where to find them.

Find where with online IDX tools from XoomPad.com and keep up with the latest in real estate news at UrbanTango.com.



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