Real Estate Slump? What Real Estate Slump?

Real estate still equals real headaches in most places. Although home sales are up nationally from a disastrous 1991, residential real estate in California and much of the Northeast remains a picture of despair. Price incentives haven't helped much. Mortgage rates are at 19-year lows (an average of 7.95% for a 30-year conventional loan). And some houses have dipped as much as one-third in price from the boom days of the 1980s. Yet layoff frenzy in Corporate America has left people in many parts of the country too scared to buy.

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