I live in the Milwaukee, WI area where real estate didn’t bubble or bust.  Still, this past weekend a small number of houses have gone up on the auction block.  Interest at the auctions was good.  Allowed these are not the most desirable houses in the ideal locations, but they’re up for auction in a market that was never burning hot.  On the other hand, winter has been hard and sales are down.

What does this mean?  At best we have the ability to state that the speculators are wiping out their inventory.  Considering speculation on real estate hasn’t been that hot around here, these auctions are positive things.  I comprehend that individuals lost money, but I think it states that around here it is the end of the beginning for the slide in the real estate market.  Another element, Milwaukee is doing very well in the export market.  Employment and wages are bright spots.

The bottom maybe months off and a recovery is much, much farther away, but it’s a good sign in a conservative market. 

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