"The Realtors Association expects a rebound in 2008 but they (researchers) say it will be 2009." This was the wrap up of a story on housing value. Existing home sales (nationally) were down 13.1% the largest drop in 25 years. Home values (nationally) dropped 1.8%, the first time since the great depression. I'm sorry to tell you that home values in Madison did not drop. Sure, they have not exactly skyrocketed, but they are up. Sales in Madison are down, but only relative to the last 5 years, not the last 25.
When you hear the news about real estate, keep in mind it may not be that real, or at least not local. In my opinion the news in a box so many of our local affiliates choose to repackage for us only perpetuates the myth and slows recovery.
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