[quote=DomoArigato]More good news for those of us who have been waiting to buy in SD.
So in some pricey places, the new limits will really pinch borrowers. Those limits vary from market to market and are determined in part by local housing prices. In expensive housing markets where prices have fallen, the limits will drop the most. Hardest to be hit, according to a new analysis by Move.com, will be San Diego, where loans up until $697,500 qualify for Fannie and Freddie until Sept. 30. On Oct. 1, that limit drops to $546,250, a $151,250 difference.
It finally feels like those of us who have been responsible and patient are about to be rewarded.[/quote]
Not getting the champagne out just yet (too many false starts), but this definitely looks to be one of the things so many of us have been waiting for…for way too many years. It’s high time sanity returns to the market. I’m just bummed that they sucked in a bunch of other bubble-sitting buyers in the meantime. Many people just got tired of waiting and paying rent year after year. I can certainly understand the frustration.
