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Short summary:
The bad weather caused negative effects in the housing industry, placing it the lowest level.
Long summary:
The sales were drastic in part of the country in which the weather brought terrible consequences. However, the West side raised their sales. The collapsed show us the slow economic activity that housing industry still has. There are signed contract, but no completed sales. The congress gave alternative for the first-time buyers, but it didn’t work. Many companies have faced million in loss.
Reaction:
The weather was the principle fact that affect the drastic situation that housing industry had in February. Maybe the weather didn’t help and caused difficulties in home sales this month. However, I think one of the biggest problem is that economic situation is getting worst every day. That’s why many people are thinking twice before get the responsibility of buying a house.
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Everybody would like to have their own house, however we need to have enough money in order to affort it. lossing jobs is the main problem on this economy and right now people prefer to have simple things than having a house. They know that they are going to lose it any way...
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