My First review of headlines around the world this morning brings the following:

• - Canada via the Globe and Mail: “Housing starts off at last” The first line reads “Housing starts are expected to moderate this year and next because a lot of pent-up demand has already been met and carrying costs are rising”
• - USA via Reuters “U.S. housing vacancy suggest further pain - analysts “ First line read: “A glut of vacant homes suggests that the U.S. housing market has not yet stabilized and may be poised for another downturn, Merrill Lynch said in a research note”
• - Europe via Forbes “European housing market set to cool in 2007 after a strong 2006 -RICS”. Interestingly this headline spins positive but six paragraphs in gets justified with the following: “the Bank of America is anticipating price corrections in the UK, Spain and to a lesser extent France. …research by BoA shows these European markets are overstretched and prices are approaching 1991 levels, just prior to the last house price correction, in terms of housing affordability.”
• - Australia via The Australian “Rate rises blames for housing squeeze”. David Uren opens: “The Reserve Bank is being blamed for a dive in housing construction”. The first line read “A glut of vacant homes suggests that the U.S. housing market has not yet stabilized and may be poised for another downturn, Merrill Lynch said in a research note”

These are the just the English language headlines!

So what is going on here? Is housing imploding or is everyone in the media bitter because they are trying to buy a house? Perhaps it is Wall Street, The City (London), and other influential people in the markets and the economy just talking to talk and/or advancing some agenda.

The Truth is housing is a market in a very loose sense. We are all affected by interest rates and the economy but in reality, we don’t buy markets. We buy houses. What is true globally may not be true in your city, your zip code, your neighborhood, or your street. Furthermore, if a lot of people want to buy a house, does it matter what’s happening elsewhere?

In considering your situation, remember to take a hard look at the micro variables and question whether the macro variables are relevant and if so, to what extent they may impact your decision.

My-Currency has embarked upon revealing values and information at micro levels to help you make a better decision, get a better deal and ultimately be confident that your decision was a good one.