Think it’s bad now? Here are a few indicators that may frighten some Boston real estate agents:
Massachusetts single-family home sales indicator:
2011 – 11,308
2010 – 14,158
Condo sales down 2.6% in September and from 2010 to year-to-date down condo sales down 20%.
Mortgage delinquencies indicator: Mortgage delinquencies are on the rise. In the second quarter 2011 number of delinquencies were at 5.82% in the third quarter of 2011 5.88%.
And lets not forget…
The tap water indicator: The NPG Group, a research firm, in a recent study found Americans are foregoing paid beverages to save money at restaurants and are drinking tap water instead.
Yes, tough times ahead.
This weekend we’re going to a restaurant, and I’m just going have to tell Mona, forget the Merlot, lets drink more tap water, eat a lot more free bread and would she mind ordering off the kiddie menu.
File Under: Belt tightening or should I say intestine tightening.