Good News On the Economic Front

There is good news on the economic front which will eventually translate into good new for the Montgomery real estate market.

• The number of first-time filers for unemployment benefits fell by 24,000 last week to the lowest level in nearly four months, the Labor Department reported Wednesday.

• Keivan Deravi, the AUM pundit, says the demand for diesel fuel and cardboard are both up. That means more things are being manufactured, packaged and shipped by truck.

• Rick Sharga of Realty Trac reports Montgomery's foreclosure rate is trending downward and is 3 times better than the national average.

• Jimmy Lowder explains September new home sales were up slightly over August and days on market is down 4% Sept 10 vs Sept 09.

Other great observations:

1. You cannot create prosperity with austerity. Therefore, Mayor Strange's various initiatives (buying One Court Square and the buildings along Dexter; floating a bond issue to renovate Cramton Bowl and add the sports complex just as two examples) are the right approach.
2. Recovery in the residential real estate market will come as a result of investors' buying up the distressed properties currently bloating our homes-for-sale inventory. So consider the acquisition and renovation of the "greasy little houses" as a wealth-building strategy for the future.