Talking Points About the Market

Low interest rates are stabilizing the economy, including housing. -- William Poole, president of the Federal Reserve Bank of St. Louis, Chicago Tribune, Oct. 11, 2006.

Current market conditions reflect a breather, as well as a chance for buyers and sellers to reposition themselves to take advantage of the long-term upward trend in housing prices. Blanche Evans, editor of Realty Times, in an interview with The New York Times, Sept. 24, 2006.

The current slump in some markets has mainly forced a lot of quick-money speculators out of the housing market. Blanche Evans, editor of Realty Times, in an interview with The New York Times, Sept. 24, 2006.

The sales plunge in July was a reaction to a jump in interest rates in the spring. The rates have since come down, and monthly sales figures are expected to improve for the year. Blanche Evans, editor of Realty Times, in an interview with The New York Times, Sept. 24, 2006.

For buyers, sagging prices present an opportunity to acquire a more desirable home. You can get a better price on a home that will pay off when the slump ends. Blanche Evans, editor of Realty Times, in an interview with The New York Times, Sept. 24, 2006.

Quotes about the Market

"I suspect we are coming to the end of this downtrend, as applications for new mortgages ... have flattened out. There is a good chance of coming out of this in good shape, but average house prices are likely to be down this year relative to 2005. I don't know, but I think the worst of this may well be over." — Alan Greenspan, former Federal Reserve Chairman, Chicago Tribune, Oct. 11, 2006

“It’s slower but we’re coming off record years for nine consecutive years. Basically, it’s returned to a normal, healthy market. Anyone who got into the market over the last few years doesn’t know what a normal market is.” — John Bolduc of Eastern Connecticut Association of Realtors, TheDay.com, Sept. 19, 2006