market_bottom_081809.jpgEver since the real estate bubble burst and market indicators across the board started plummeting, everyone has wanted to know when the market was going to reach bottom. Well, maybe we’re there, nationally speaking. Dean Baker, of the Center for Economic and Policy Research, thinks so; he told AP via Fox News that “the freefall is over.” AP cited several nationwide statistics from the past two weeks: “home resales in June are up 9 percent from January, on a seasonally adjusted basis; sales of new homes have climbed 17 percent during the same period; and construction, while still anemic, has risen almost 20 percent since the beginning of the year.” In the Northeast, “home resales in June hit a seasonally adjusted pace of 820,000, up 28 percent from the beginning of the year. Sales of new homes were also up slightly and construction in the region more than doubled.” It is the amateur statistician, however, that reads too deeply in short-term statistics. The improvements in the market, so far, can only provide hope that the worst is behind us, but economists warn that even if this is the bottom of the barrel, we may stay down there for a while longer.
Welcome to the Bottom [Fox News]
Photo by AvarieRiot


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  1. LOL wasder!

    FSRG, if your alleged respect for teachers was grounded in any sense of reality, you never would have mentioned an alleged “180 day work schedule”. By the way, if teachers live so comfortably in NYC, why do they keep leaving their profession and the city? Then you go on to make an irrelevant point about union workers’ indignation. Come to think of it, as a teacher, I have very little respect for my union, which is one of the main obstacles to educational success in this country.