It is known to everybody that every corner of the world is encountering a depressing time with regards to economic status. All countries have their own share of fiscal slumps since 2007. For one, the U.S. is not an exception as economists analyze the current economic situation parallel to the Great Depression in the 1930s. A lot of industries, especially the real estate arena, have been incessantly challenged.
2010 is the year of the tiger. The economy, on the early part of the year, has been showing plenty of signs for its tiger improvement. However, the real estate market is still slowing. Although in 2009, the market sales have showed an increase but all seems to be temporary. For one, in 2008 and 2009, the government had a stimulus package to boost housing sales. They did it by providing tax credits for first time home buyers. They even extended it to this year and gave better provisions by including repeat buyers to avail of the tax credits. Yes, this has helped a lot to spark some spending on housing sector. However, if you look at it, the programs are nearing its end. What happens if the stimulus package would use up its last cent? Will the real estate market sustain its sales?
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