Last year, when the U.S. housing market officially went into freefall, the average American ceased to view the house he or she lived in as a home. Suddenly, it was a (gasp!) toxic investment. There’s no doubt that, for some, this was true. Buoyed by the heady success of the housing market in 2005 and early 2006, both borrowers and lenders appear to have made foolhardy decisions that led to the current crisis.
But discussing the real estate market in national terms is like depending on a global weather report to decide whether or not to carry an umbrella in the morning. Joan Moreau, an agent with RE/MAX Right Choice, says that the national media frenzy is making prospective home buyers and sellers around here unnecessarily anxious. And Michelle Genovese, of Michelle & Company in Westport, states emphatically that while it may be bad news elsewhere, our market is doing just fine, thank you very much.