Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Pending home sales fall 16 percent in Nov.

WASHINGTON – The number of people preparing to buy a home in November fell sharply — the latest sign that the housing market, which had appeared to be stabilizing, is headed for a "double-dip" downturn.

http://news.yahoo.com/s/ap/20100105/ap_on_bi_go_ec_fi/us_economy

What does a "double-dip" downturn mean to you?

 
Anonymous

Asked by Anonymous at 2:48 PM on Jan. 5, 2010 in Politics & Current Events

This question is closed.
Answers (7)
  • It means it is going to dip down twice during the cycle.

    I am not surprised by this. It is going to be a very long time for housing to recover. It is going to get worse before it gets better because the economy is still in a downward spiral.

    The anon was right though, there will always be some that have a need to buy. I think some buying now is also investing. We are thinking about buying a house at an area lake. We have to see what the stupid healthcare bill is going to do to us though. :(
    yourspecialkid

    Answer by yourspecialkid at 3:39 PM on Jan. 5, 2010

  • It was inevitable. How are people going to buy homes when they are either unemployed or scared of losing the job they have?
    Carpy

    Answer by Carpy at 3:23 PM on Jan. 5, 2010

  • My house just sold. So obviously not everyone is unemployed or scared.
    Anonymous

    Answer by Anonymous at 3:31 PM on Jan. 5, 2010

  • Well, if YOUR house just sold then the market as a whole must be fine.
    Carpy

    Answer by Carpy at 3:37 PM on Jan. 5, 2010

  • LOL Carpy!! Let's call Obama and tell him it IS working!
    yourspecialkid

    Answer by yourspecialkid at 3:40 PM on Jan. 5, 2010

  • I rent so I don't care.
    Anonymous

    Answer by Anonymous at 6:29 PM on Jan. 5, 2010

  • In a bad economy people are generally not as confident in making big purchases. So it's going to take more time for the real estate market to recover. There are a lot of people who could buy who are already homeowners.

    SylviaNCali

    Answer by SylviaNCali at 8:28 PM on Jan. 5, 2010

close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN