Thanks for reviving Enorah post. It’s fun to go back in time revisit the past sometimes.
I’m going to repeat JWM’s post here. It was dead on and still is. The macro picture is what’s most important. I don’t care about the number of pendings is this week… The macro picture is so bad that most of them won’t close.
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Submitted by JWM in SD on July 26, 2007 – 12:20pm.
SD Realtor,
If your perspective is only from that of the housing market you may have point, but there definitely has been a tipping point with regard to the credit market and that is undeniable as of this week. The fact that the housing market is intrinsically tied to the credit though makes this debateable in my opinion.
The posters here need to stop looking at this from the prism of SD home prices and start looking at the macro picture instead. It is scary, but it will give you the confidenced needed to steer clear of bad advice right now.
Anyone looking to buy a house right whether they can afford it or not is making a bad financial decision given the economic circumstances that we are headed into at the moment.
