Bloggers and the Bust
If you haven’t heard, the real estate market ain’t doin’ so well these days. Mortgage lenders are shutting down faster than 6th street at 2am. Homeowners are balking at the new rates their ARM’s are adjusting to. Housebloggers are… well, what are housebloggers up to in light of the housing bust?
Newsweek reported this week:
The collateral damage is spreading. Because home sales and moves stimulate purchases of appliances, electronics and furniture, the giant chains that catered to house flippers and renovators have reported recessionlike results. In the second quarter, same-store sales were down 5.2 percent at Home Depot and 4.3 percent at Sears.
Americans who were living high by taking out home-equity loans during the boom have watched their equity drop, and are now faint of heart when it comes to big-ticket discretionary purchases.
I’m working up to a series about how to make sure your renovation makes more money than it takes from your savings account, but until then I’m wondering how other housebloggers are holding up under the crunch. Are you getting hit by the real estate recession?
The “Media” (I can say that - I am one of them) Have been trying to shove this “crisis” down our throats for months. They won’t get me to wear straight legged pants, and they wont get me to freak out and sell. I realize that we are a little insulated up here in the Pacific Northwest, but every article I read has a doom and gloom headline and in the body of the story they explain why there really is no crisis. We should all spend more wisely and I believe there is just a correction going on - a plateau not a dive.