Submitted by DaCounselor on July 25, 2007 – 2:12pm.
Good thread. Just a couple of random thoughts regarding afforability:
I often see posts on this site regarding affordability issues that seem to focus (implicitly) only on folks who are first-time buyers with no $$ down. I think it’s important to take into account the number of move-up buyers with alot of equity to roll into the new purchase when considering affordability. I think SDR or sdr posted some North County stats many months ago that highlighted this fact. I’m not saying that there aren’t affordability issues, but I do think a fuller perspective is in order on this topic.
First-time buyers are what drive the whole thing. Where do you think move-up buyers get the equity? From some chump, I mean first-time buyer, buying their house.
