Just when you thought the world was going to hell in a hand basket. Just recently:
- U.S. Mortgage Rates Drop Below Year-ago Levels
- The economy has expanded faster than expected
- The trade deficit has been reduced
- Housing inventory has shown signs of stabilizing. This according to a recent Zip Realty statistical compilation.
- The Office of Federal Housing Enterprise Oversight, which oversees Fannie Mae and Freddie Mac, on Wednesday agreed to allow both companies to buy more subprime loans. Meaning help for those we thought were sure to go into foreclosure can now possibly refinance.
- Commercial Real Estate is booming across the country. A record $257 billion was invested in commercial real estate in the first seven months of 2007, up from $146.7 billion in same period in 2006 — that total does not include transactions valued at less than $5 million, or of investments in the hospitality sector.
- The Fed recently this week sliced one-half a percentage point off the federal funds rate, cutting it to 4.75 percent from 5.25 percent. This may or may not be the solution the market needs. But it will certainly help over time.
- The median closing sales price of Chicago Condos For Sale for the Week ending August 22nd was up 8.5% from the same week last year. Sales are off, but prices remain steady to strong.
Thought some positivity might be in order before the weekend.
