Bubble Wrap

Bright Spots

The Post tries to shine some light through all the doom and gloom by talking to important real estate insiders who aren’t panicked citing good absorption and lower mortgage rates.

Plus, when the Fed announced last week that it was buying $500 billion worth of home loans from Fannie Mae and Freddie Mac, mortgage rates dropped. The average 30-year fixed rate available is now well below 6 percent.

Since the Fed announcement, Cohn says, “Phone volume has increased several hundred percent.”