In our continuing efforts to try to comprehend the up/down market, we turn to the Web site of The Mercury (formerly the Getty Oil Building) at Wilshire and Western. The last time we visited the site, we were assaulted with some kind of hip techno salsa music. We're happy to say the music is now gone, and in its place we find sweet imagery and a blog. Among the interesting things we learned from the blog, is that the building's rooftop pool was installed earlier this month and that the downturn in the housing market is largely a myth manufactured by the media. The blog quotes a story about a recent poll that found 4 out of 5 homeowners expect to see the value of their home increase. To no one's surprise, the National Association of Home Builders can't let a good poll go untouted.
“The poll clearly debunks the more sensational media reports speculating on the demise of the housing market,” said NAHB President David Pressly. The NAHB also says to expect solid and sustained growth in the future. In other news, the tobacco industry encourages Americans to continue lighting up. Cigarettes are sexy.
· MORE REPORTS. SAME NEWS: MARKET REMAINS STRONG. [The Mercury Blog]
· Consumers Still Confident of Home Values [HGTVpro.com]