”…and the Silver Lining
Prices are falling in Britain as well, and to some analysts, that’s just fine. On Jan. 28, The Times of London ran a commentary by a geography professor Chris Hamnett titled, “Great news! House prices are down.” His point: By making homes more affordable, a big price drop will be good for the market’s long-term health.”
I think I’ve heard one main stream comment that declining prices are a good thing. I’m surprised the perma-bulls don’t start pointing to this. Although that would mean they would have to accept that prices are going to fall even further. Of course that means thinking beyond 3 months, which Wall Street, the FED, and our Government can’t do.
Oh the horror when a sub $100,000 HH income can afford a home again!