Robert Toll, in an interview while announcing their Company's loss (Toll Brothers), is quoted as stating:
"Ceaseless talk of a recession continues to dampen the mood of consumers in general, whether or not a recession actually occurs. For home buyers, we believe this drumbeat, coupled with concerns over mortgages, the direction of home prices, and foreclosures, has kept pent-up demand on the sidelines," Toll stated.
I must agree 101% with Mr Toll. The News Media's constant negative headlines are giving home Buyer's the excuse they need to not purchase their next home. Or, worse yet, not get their existing home sold.
As Realtors, we must point out the positives to our Sellers and Buyers so they can see that the choices of homes to chose are great, the price of money is awesome and we can help them find their next home of their dreams! If you look at the typical interest rate of 6%, plus all the write off power against your income, it is incredibly "cheap" money!!