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2008-08-14 — bloomberg.com
"The good news in the worst housing slump since the Great Depression is that the market in Cleveland is recovering. That's also the bad news."
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Comments:
csadow at 01:04 2008-08-15 said:
I live in Cleveland and the housing market is not recovering. Lost Jobs, wages & income, along with high taxes, makes for a perfect housing debacle like Detroit. The Sub Prime mess is about over, which is good, but the ARMs are about to adjust. On a positive not, there have been pockets of Cleveland where houses have been making small gains from the low 20's to the mid 20's with foreclosed homes. No kidding on this one. I guess that is an improvement in the housing market. Cuyahoga County is still averaging 225 homes on the sheriff sale list per week down from 350 per week last year. This does not include surrounding counties. PermalinkAppraise.Cleveland at 21:20 2008-08-15 said:
Like so much mainstream press, this article uses data from seasonal trends (without perspective as to the changing mix of housing product) to draw inferences for overall market direction. Let's not hold our breath on this "recovery." Permalinkadd a comment | go to forum thread
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