Comments on: Thursday thoughts – 2 February 2008 http://www.realcentralva.com/2008/02/07/thursday-thoughts-2-february-2008/ Tracking Charlottesville's Real Estate Market since 2005 Sun, 12 Feb 2012 23:56:00 +0000 hourly 1 http://wordpress.org/?v= By: Jim Duncan http://www.realcentralva.com/2008/02/07/thursday-thoughts-2-february-2008/#comment-13064 Jim Duncan Mon, 11 Feb 2008 15:55:32 +0000 http://www.realcentralva.com/2008/02/07/thursday-thoughts-2-february-2008/#comment-13064 A clarification - those 80 are ones that actually went "under contract" - not closings, so it's a better measure of real, timely market activity. The recovery also needs to have increased consumer confidence - confidence that purchasing is better than renting. A clarification – those 80 are ones that actually went “under contract” – not closings, so it’s a better measure of real, timely market activity.

The recovery also needs to have increased consumer confidence – confidence that purchasing is better than renting.

]]> By: Scott http://www.realcentralva.com/2008/02/07/thursday-thoughts-2-february-2008/#comment-13063 Scott Mon, 11 Feb 2008 15:51:08 +0000 http://www.realcentralva.com/2008/02/07/thursday-thoughts-2-february-2008/#comment-13063 Hi Jim - Here's the real question: how much of the cliff is hidden in averaging the sales over the course of the year? That is - for those 80 sales, how many took place during the first two quarters - pre-credit-crunch? The recovery will hinge nearly entirely on restoring access to credit. Credit will not become accessible until true affordability comes back into the picture - when housing prices are more realistically in line with income, then we'll see a 'recovery'. Hi Jim -

Here’s the real question: how much of the cliff is hidden in averaging the sales over the course of the year? That is – for those 80 sales, how many took place during the first two quarters – pre-credit-crunch?

The recovery will hinge nearly entirely on restoring access to credit. Credit will not become accessible until true affordability comes back into the picture – when housing prices are more realistically in line with income, then we’ll see a ‘recovery’.

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