We have now had five shows of the house. No offers yet.
The whole process has been interesting. From our vantage point, it is a buyer’s market. There is a huge inventory of houses on the market here.
The big discussion we have been having is whether there are buyers out there who can afford the cost of today’s homes. We bought our place from $180,000 and it looks like it is worth around $300,000 today. A $1000 monthly payment is very different from a $1700 payment. We just wonder if the only way you can afford to get into a new house is by selling one.
The Business 2.0 Blog feed was screwed up today and they listed some really old posts. One was from a NYT article from August 2005. The important part is the graph.
I think this pretty much tells the same story.
UPDATE: Here is the link to the original NYT story.