Boston Real Estate
Diana Olick and Scott Van Voorhis both point to stats indicating that the debt-ceiling debate in Washington may be impacting mortgage rates and buying decisions by consumers.
They note that home buyers who sign contracts on existing homes are bailing out of deals at an alarming rate.
In Boston Real Estate Blog’s humble opinion, the evidence isn’t exactly overwhelming. The latest stats about home buyers bailing out of contracts come from June – when the debt-ceiling debate was more of an inside-Washington topic and not the national drama we see today. Are industry experts saying that home buyers were spooked about the debt ceiling way back in June?
Nevertheless, here’s a simple question bolstering their general point: Is there anyone out there who actually thinks the current debt-ceiling gridlock is helping the economy? It isn’t helping. We all instinctively know this.
Consumer confidence is bad enough as it is. Now consumers see our national leaders unable to arrive at common-sense compromises. How’s that going to help consumer confidence? How’s that going to ease the prevailing sense of uncertainty out there?
Filed under: Nero, Rome, fiddling
