Home Prices Rise, And The Luxury Market Booms

Jason Redmond/Reuters/File Enlarge Boston Joshua Golden works in the most expensive segment of one of the priciest housing markets in the country, selling hotel penthouses and luxurious single-family homes in Boston ‘s posh Back Bay, South End, and Beacon Hill neighborhoods. For him, 2013 has been very busy. The Christian Science Monitor Weekly Digital Edition “Buildings that people didn’t want to touch during the crash are now considered very desirable,” says Mr. Golden.
For the original version including any supplementary images or video, visit http://www.csmonitor.com/Business/2013/0924/Home-prices-rise-and-the-luxury-market-booms

Housing market stays strong

That amount of spend translates directly to the general economy. When consumers spend more, the economy gets stronger. (The last few years have been a real-life test as to what happens when no one is spending, or not much anyway. While the latest studies show that life is pretty good for the top 1 percent of earners, most of the remaining 99 percent are mired in a relatively poor economy.) The good news is that home prices are rising and more homeowners are finding that they have gone from having negative equity to being at par to having at least some small amount of positive equity in a relatively short period of time. (We know that every day your house is underwater can feel like an eternity, but the [read] housing markets have been recovering faster than many industry observers imagined they would.) According to CoreLogic, a property information analytics provider, at the end of the first quarter of 2013, 9.6 million homes (roughly 19.7 percent of all homeowners with a mortgage) had negative equity.
For the original version including any supplementary images or video, visit http://www.washingtonpost.com/blogs/where-we-live/wp/2013/09/23/real-estate-matters-negative-equity-dropping-as-housing-market-improves/

Real Estate Matters | Negative equity dropping as housing market improves

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