Debt Ceiling Crisis Hindering Philadelphia Real Estate Market
On Friday a client of mine who has already identified the home he wants to purchase and negotiated favorable price and terms decided to take the weekend before finalizing his agreement of sale to see if the debt ceiling is raised. This lends credence to the argument I’ve been making all week that some economic damage has already been done by way this issue has been handled by the White House and Congress. Even if our credit is ultimately not downgraded prudent individuals, probably in all walks of life not just real estate, have held off making purchases or hiring employee in order to see how this plays out in Washington. Given the drastic financial, economic, and employment consequences their caution is certainly understandable.
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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
www.CenterCityTeam.com
