Believe it or not, in the future people will be buying and selling homes. Some of them will even make a profit.
It’s not so crazy an idea. Consider Albuquerque, N.M. The mid-sized Southwestern city has experienced housing price declines since a peak in the third quarter of 2007, job growth has been flat, and housing starts are expected to fade by 45 percent through the end of 2008. Nevertheless, it’s a city that home builders and economists are bullish about for 2010 and beyond.
Forbes has the story.
A house on my street that sold last summer for top dollar is on the market again (it’s a long story). The asking price is just 2% less than last year. Of course, they haven’t sold it after three weeks. Still . . .
Thanks to Byron for the link.