Debt Limit and the Real Estate Market

It's the day after Congress has passed and the President has signed the bill that increased our national debt limit.  The reaction of the stock market remains negative with a multitude of reasons being offered.  The projections for the job market aren't any more encouraging.  If you're involved in real estate, construction, brokerage, financing, inspection, etc. ...what impact do you see from this in the weeks and months ahead?

Poll of Quincy Real Estate Agents

In a recent poll of Quincy Real Estate agents to determine their opinion of the local market, 68% said that the prices of existing single family home was still dropping, and the other 32 % said that prices a\have stabilized.  When it came to estimating the sale activity, 88% responded that the market is still slow and only 12% answered that the market had finally stabilized.

The view of the multi-family was slightly more optimistic.  53% of those who answered the surveyed felt that sales were still dropping, 33 %  and 14% saw a slight improvement in prices.  This optimism was also reflected in viewing market activity, 13% seeing an improvement in sales, 27 percent saying that sales levels are relatively stable and 60% still seeing a decline in the market.

What's happening in your town?

Real Estate Classes a Predictor of the Real Estate Market

Can you judge the real estate market based on the number of people who want to start a real estate sales career?
For the past several years, the enrollment in real estate schools in Massachusetts had been phenomenal. Over 900 first time candidates wee taking the state examination to become licensed as a Real Estate Salesperson. This was an obvious reaction to the ever increasing sales at increased prices that was observed.
By early 2008, there was a marked decrease in enrollment of real estate students as the media covered the increasing problems with real estate proce drops and real estate foreclosures. In the fall of 2008, as the news about the economy became more and more catestrophic, along with the attention of the national campaign, many classes became very limited in size.
Just as there is usually a spring real estate market, we see some positive signs in real estate school enrollment. The students come to class with different background and different expectations from those of 4 - 6 years ago. Many of todays' students have experience in finance, insurance banking and related real estate estate. They acknowledge that they will have to work to be successful, and that there is a future.

Your comments are welcome.