Thursday, August 11, 2011
Are ugly homes pulling down the housing market?
A column by Daniel Indiviglio in the Atlantic suggests that part of the reason why the inventory of homes in some markets are not coming down is not as much about foreclosures and short sales as it is about much of the inventory is distressed, and it shows.
Maybe Americans aren't avoiding buying homes right now -- maybe they're just avoiding buying ugly homes. The housing market may be splitting into two sub-sectors: well-kept, good-looking homes and run-down, torn-up homes. Could the latter group be preventing the housing market from stabilizing?