Evidence of The Turn-Around?

I have had several owners and property managers tell me over the past couple of weeks of April that they have received more notices to vacate than usual but that almost 100% of those departing tenants are doing so because they have purchased a place. This is good news from the perspective that people who own tend to stimulate the economy more than those that rent.

I mentioned this to one of my co-workers who replied that both of her best friends have each purchased their first home in the past four weeks because the both the pricing and the interest rates for the mortgages were “at rock bottom”. Obviously these are relatively young people who don’t remember the $15,000 home market in the 1950’s but it doesn’t matter since perception is reality in the marketplace which is exactly my point: the market has turned up (well, at least it has stopped falling). So these new homeowners will hire painters, new cabinets, new furniture, etc. and everything re-starts after the long winter hibernation of 2008.