Posted by Aaron Angel at 1:48pm on Wednesday August 26th 2009.
This is a first post as we experiment with sharing via our new blog. Please be in touch with your question and we may turn the answer into a featured post.
The New York Times and other media outlets have been reporting a rise in home prices, indicating that the worst is over.
In a convincing sign that the worst housing slump of modern times is coming to an end, prices are starting to rise in nearly all of the nation’s large cities.
The same report notes that New York, while experiencing some growth, was low on the list.
In the 20-city index, the New York metro area ranked far back in the pack, increasing only 0.4 percent in June.
We’re cautious optimists. We believe home prices will continue to be depressed, particularly in the New York area, for at least the next year and when prices do rise we believe they will do so slowly. This creates an ongoing opportunity for local buyers. At the same time, the rise in home buying activity, helped by Federal programs and other incentives, creates an immediate opportunity for those looking to sell.
(http://www.nytimes.com/2009/08/26/business/economy/26econ.html?em)
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