As we approach the end of 2010, I like to pause and reflect on the events of the year relative to both the economy as a whole, and the real estate markets in particular.
I was just looking at figures released this morning relative to how our economic output is doing. Gross Domestic Product is a figure that is very important as it shows how we, as a nation, are growing economically by looking at the value of all the goods and services that we generate inside the U.S.
I was fascinated to read my associate Karl Case’s article on housing published in the New York Times a couple of weeks ago. In it he suggests that the “American dream” of home ownership, rather than being dead in the water, is actually alive although somewhat battered!
There is no question the economy and the housing market has slowed down over the last few years and the recent deluge of articles for and against homeownership is impossible for us to ignore. Ultimately, we believe that the American dream of homeownership is alive and well.
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