As we approach the fourth quarter of 2010.. It becomes painfully evident that the reported economic recovery of the regional as well as U.S. Economy, remains increasingly fragile.
Supported by Federally Funded civic projects, consisting primarily of bridge, road and school construction, a flurry of work project activity is easily noted as one traverses the under construction streets of Eugene Oregon.
What about the rest of us?..
Not everyone works in construction, much less heavy bridge or road construction, and although Eugene companies such as Wildish Construction Have greatly benefited from the award of TARP funded road projects, the majority of Eugene business owners find the road construction to be of great negative impact to their day to day business operations.
On the Real Estate Home front.. The latest market action report from the regional market listing service shows that housing inventory has grown from a seasonally adjusted 7% in June 2010, to a reported 11% in July 2010. Principle Broker, David Holland of Barnhart Associates, Eugene.. Attribute the increase in housing inventory to pent up listing angst.. Maybe..
Premature expiration of first time buyers credit. While our federal government has continued to infuse future tax dollars into a stagnant economy, in hopes of promoting sustainable growth, the powers to be have opted to leave the fate of the residential real estate market to the ill winds of a still ailing general economy.
All major indicators point to this move by the Fed to be a major contributing factor toward the stall in the hosing market.. No tax incentive.. No deal.
4 to 6 years of stagnant growth? Some in the know believe so.. At a recent Tuesday Brokers meeting held in the conference room of Barnhart Associates of Eugene, the general consensus shared in the room, was that the local housing market would continue to be in the dumps for quite some time.
One senior agent who had witnessed Oregon’s recession of the early 80’s, stated that she believed it would be four years or more before we would return to what most consider a normal real estate market..
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Positive thoughts manifest positive events..