The market already has slipped 20 to 30%.
We’re waiting for 40-60%.
Geez, dude, where have you been?
no matter who gets involved, or what gets involved, this housing market will eventually settle at affortability.
Ofcourse its to no one interest that the economy craters, except for the gold/cheese and cracker horders.
Actually I would like a nice smooth transisiton to affortability where a median family income has a hope of buying a median priced home, which will happen one way or another. That will happen no matter the bailout or no bailout. It’s just a matter of how and in what timeframe.
I think most of the folks on the website have above median income, above average savings, great credit score, and plenty of common sense. We will buy when it makes economic sense, and not when some idiot thinks we should. The home buyer boycott will continue until the historical income/home price ratio occurs once again, and the market will for a very long time lack the idiots that bought just because they could. No matter who gets to keep their homes because they get thier mortgage rates frozen, this market will no longer be determined by the amount of foreclosures, but by the very few that will actually qualify for a mortgage in the newly tighten mortgage market, and we are not buying at your fantasy prices. The current fore sale housing inventory, and that the inventory still coming on line locks that fact in. The bailout came just a little to late to make any real impact of where home prices are heading (down), but with plenty of time avoid a economic meltdown. PERFECT!
