I agree with Daniels view… a long slide for a long time… Resellers don’t get it and won’t get it… unlike bad stocks that they finally sold off in the dot come burst they actually can live in thier house assuming they can make the payments. Also I believe the recession will really slow down the NOD rate…People will scrape to get by and the low rates will help them do that… it will be an ugly slow road down…. The developers however get it and will continue to lead the market with lower prices… I only wish resellers had the insights of developers…
Powayseller – To be honest I am confused that you financed 97% of your home without PMI. To be honest I am not sure how you pulled that off… You sure you did not have an impound account for tax and pmi? What kind of loan did you get? Who did you get it through? Anyways, the PMI laws have not changed at all. So you have me stumped on this. Most everyone gets around it with a second or a heloc… if they cannot come up with 20% down.
