Real Estate is in an insecure position. If you want to invest, it is important to have the appropriate income, credit and job security. If you have these in place, there are many deals to be had. If a potential investor is not yet ready on this front, now is not a bad time to sit and do research. Watch the market, see how others invest, and then, when the time is right, make the best move you can.
Some of the 12 Fed districts see the recession easing a bit, but they are still not expecting a significant boost in economic activity in 2009.
“Contacts from several districts said that their expectations have improved, though they do not see a substantial increase in economic activity through the end of the year,” the beige book report said.
The report, a survey from the regional Fed banks, was prepared ahead of the Fed policy meeting slated for later this month. Information for the report was collected on or before June 1.
Overall the results of the report were mixed.
When it comes to manufacturing, for instance, most Fed districts reported softer or low levels of activity. However, several districts reported that the outlook by manufacturers has slightly improved.
A similar theme played out in the last beige book, which also showed that while economic activity was weak, certain regions saw hopeful signs that the pace of economic decline was slowing.
Wednesday’s report showed that retail spending remains soft, with consumers shunning luxury items and new car purchases. Several districts said tight credit conditions are hampering auto sales. Meanwhile, the report shows that tourism activity also declined.
Comments on the housing market were more upbeat, with the New York, Philadelphia, Cleveland, Richmond, Chicago, Kansas City, Dallas and San Francisco districts reporting more home sales and some stabilization in home construction, albeit at very low levels.
So there you have it, Boston real estate is in limbo. If you have the means, then now is a great time to invest. If you don’t, it is a great time to study the market.