Housing Market – Not going anywhere

forclosed.jpgHouse sales are still low but it shows some improvement, not according to analysts who say there are still too many new homes with not enough buyers. In areas where there used to be high home sales are suffering due to the pullout of insurance companies from their area due to the high losses they had during Katrina and the many other natural disasters. In Florida, two of the largest insurance companies pulled out opting not to renew and issue new policies. These companies are under investigation for covertly cancelling policies causing a stagnant market in areas such as South Palm Beach. The state has opened homeowner assistance centers to aid residents with their mortgages even giving $10,000 to those behind their bad loans just to keep them in their houses and out of welfare

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