I don’t want a large number of people to be hurt – but if they start playing games with the market economics, then someone will get hurt. Prices need to come down. Anything that changes this will provide some relief for some, but will hurt the vast majority who can’t buy homes.
Lets face it. There is no significant reason for the price run up, no one but hard core Realtors with only greed on their side can make a point for this. What goes up must come down to a fundamental point. We have been living on credit in this society for too long, there has to be a correction. Even if it isn’t a massive correction, with interest rates where they are now most people can’t buy. That isn’t right. Also – what about all the baby boomers. They need to sell. With prices this high there has to be downward pressure. With downward pressure will increase the buyers.
Just my opinion – remember – we are just after the largest price increase on record. Prices were still flat or higher a year ago. This roller coaster is just heading down and it will gather speed.
