| New York City, the plushest state in the US, | | | | on something, it actually calls for luck |
| has once again made the headlines; and this | | | | since it only has two to ways to go: up or |
| one's no different than the previous ones. | | | | down. Just like the stocks, real estate can |
| | | | be unpredictable. The prices and market |
| Homes were 28% more expensive than the | | | | values five years ago may not be the same as |
| earlier reports and the results? Sales | | | | what is today. |
| plummeted to about 22%. Unbelievably, the | | | | |
| typical price of houses in Manhattan sky | | | | Nevertheless, however stumping the economy of |
| rockets to $1.6 million and obviously, the | | | | the country is, real estate will never fall |
| average Joe can't afford it. More so with | | | | rock-bottom. Why? Well, there's what we call |
| co-ops and condominiums as they rose to about | | | | government intervention. The government does |
| 96% with the average cost being $2.1 million. | | | | its best to revive the economy, proposing |
| | | | different kinds of Bills and switching |
| New Yorkers both have mixed emotions about | | | | targets, for things to get better. |
| it. They wouldn't know if they should feel | | | | |
| happy that the market value of their houses | | | | Alison Rogers, a real estate broker, implied |
| are increasing per annum, or quite worried as | | | | in her published letter that, of all the |
| to how will it be in the future. | | | | types of people she hates, the fence-sitters |
| | | | are included in her top 10. Fence-sitters are |
| For the 28th month in a row, filings for | | | | those who wait for the market value of |
| foreclosure increased and mortgage issues are | | | | something to plummet 50% (or below) than its |
| well expected to carry on into the next year. | | | | original. Sadly, these people do not know |
| But experts from MSN say that if it plummets | | | | what that entails and I am pretty sure they |
| this fast, then recovery will be faster than | | | | won't get their houses anyway since this will |
| expected. More than half a million homes were | | | | never happen. |
| either in the process of foreclosure or were | | | | |
| foreclosed. Now, talk about a million | | | | Ironically, the state that focuses on |
| families who spent the first quarter | | | | gambling as its main tourist attraction is |
| homeless. | | | | the state that currently has the largest |
| | | | number of foreclosed properties in the past |
| MSN placed in their website a Home | | | | month all over the United States. RealtyTrac |
| Affordability Calculator wherein you could | | | | said that in every 139 houses, 1 house is |
| input your personal finances on the blank | | | | either listed as foreclosed or is in the |
| spaces and MSN could calculate the house that | | | | process of being foreclosed. Looking under |
| your budget can permit. Might as well check | | | | the lenses of macro statistics, it shows that |
| it out as it might help you. | | | | the foreclosure rate of houses in the United |
| | | | States was up by 5% from February to March. |
| Naturally, when you buy something in the | | | | But apart from Nevada, states like Georgia, |
| market (no, I'm not referring to the grocery | | | | Ohio, Massachusetts, Michigan and Maryland |
| store near you, but the bigger market), it's | | | | seem to follow the same trend. |
| called an investment. When you're investing | | | | |