REAL ESTATE Trickle Up
Published: August 26 2009
Water doesn’t flow uphill, but the housing market may do just that.
As first-time buyers are recognizing the tremendous benefit of the $8,000 stimulus tax credit, the “starter” homes are beginning to fly off the market, so the home can be closed before the end of November. This allows the sellers of those homes to actually purchase the more expensive homes they have previously only been able to dream about.
Many times at open houses this summer, we’ve heard the words, “If our home would sell, I could buy this.”
Now we hear, “Our home has just sold. We are ready to buy.”
This is the uphill direction that should help our economy.