Wednesday, August 20, 2008

Light At End of Tunnel?

The Thursday 8/14/08 Macomb Daily, a Detroit suburban newspaper had an article of interest to me on which I thought I would comment. It is a news article by Christy Strawser titled 'Foreclosures Scooped Up In Macomb [County-ME].'According to the article:
For the seventh straight month, metro Detroit increased overall in sales volume over the same month last year, including a 39 percent hike in sales in Livingston County, 36 percent in Detroit, and 23 percent in Wayne County.
No this isn't the end of the housing crises:
Experts said growth was fueled by a glut of foreclosed homes on the market, short sales, and sellers willing to take a loss - so while sales are up, prices continued to plummet.
But I see the increase in buying not as an end to the crises but as a light at the end of the tunnel. At least I hope so.

It shows that supply and demand still work despite massive interference in our economy by the government, that when prices come down to meet demand sales will result--without the help of government.

No comments: