Just back from a Real Estate meet and greet at a local mansion. A chance for free food and drink and a chance to hear the mood of agents and house hunters. Suffice to say the sellers out number the buyers. Between the economy and the paranoia of mortgage lenders and banks, its hard to get a place sold or bought. Maybe that's a good thing in the long run those buyers who are willing and able to commit to a higher down payment are more likely to be able to meet their obligations and the lenders now have to know more about their customers. But those people who are trying to get out of a now too expensive house or follow the jobs to some other city or state are also suffering. And if you are trying to sell a condo you are going to be waiting a long time. Yet the city and county continue to raise property taxes
Also eavesdropped on some commercial Real estate types talking about the number of empty slabs and rumors of other existing occupants struggling in this economy. it is a tough town to make a living unless you own a bar or a bank. How come there is a new bank on every corner and the country is in a recession ?