Signs Of What's To Come?

Realtors, sellers, and just about everyone else, wish that this real estate crisis had never happened, but it did, and more reports came out today. Last month, applications for building permits dropped to a 14 year low. Furthermore, construction of single family homes shrunk to its lowest level since 1991. That's 16 years. That's not all though. Freddie Mac reported a 2 billion dollar loss amid a worsening real estate mortgage crises, partially created by unscrupulous and greedy lenders looking to make a quick buck. It all sounds so bad, but then again the darkest hour comes right before dawn, and it does seem that people are still spending dollars in Miami. Miami Beach's Lincoln Road Mall was packed with out of towners this past week, and more people are coming for the warm weather and sunny climate. Will that translate into more real estate sales this winter? We shall soon see.