[quote=JohnAlt91941][quote=sdrealtor]PR
That program is already available to renters so no new program is needed. Its called buying a house at historically low interest rates when prices have dropped substantially from previous highs in nearly every market in the US.[/quote]
“dropped substantially from previous highs”
So. Prices are still artificially high with the low interest rates, and this is still a giveaway to those who bought at higher rates, when homes were priced factoring in those higher rates.
New buyers get nothing from this except probably less inventory to pick from.[/quote]
John
Drop the myopia. The US real estate market is not SoCal. Prices in many places are down 70% from peak levels and more in other areas. I just spoke to a friend who bought a house at 86% off the prior sales price in the PHX/Scottsdale area. Lots of the country never saw the appreciation we saw here. Most homeowners in this country have equity and lots of it. This is not a propostion to save SoCal, its a propostion to stimulate the economy in the entire country.
