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New Jersey Real Estate

Blog by Karl von Loewe
Hillsborough, New Jersey
Real estate market information and occasionally spirited opinions about residential real estate in Somerset, Hunterdon, Mercer and Middlesex Counties by a REALTOR® with over a quarter century of experience. COMMENTS ARE WELCOME. Please use the Add Comment link at the bottom of the posting.

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The Day the Market Changed
Posted at New Jersey Real Estate by Karl von Loewe
Jul. 23, 2008
Categorized in: Real Estate Market
Tagged with: home sales market, housing bill in congress

The non-existent "national" real estate market changed today, as the U.S. House of Representatives passed a housing bill, and the President said he would sign it after the Senate passed it, ostensibly in few days.  On May 15 on this blog I wrote about a meeting I was in with Congressman Barney Frank (D - MA) who said that despite statements to the contrary, the President would sign the housing bill when it was passed.  The congressman knows his stuff.

I will write further about this later, but mark this day, July 23, as when the real estate market accelerated its improvement.  There are many aspects to this bill that will revive the market, but the news today is the psychological boost the market needed.

Stay tuned....

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