The real estate cycle is difficult for me to understand. HLS says the psychology of people has a hand in this. If that’s the case, then the lowering of interest rates and raising of jumbo loans and tax rebates should instill confidence in buyers and w/in the next few months, people may go shopping again, would stand to reason.
HLS says, “Anybody who buys a house today is helping to clean up that mess and saving somebody else the trouble.”
Then what’s to stop that from continuing? The next group saves people and on and on.
I’m ok w/prices coming down b/c I would like to buy a house again. I didn’t want to do it w/trick loans, although now I’m kicking myself for not gambling, since it was free money and the gov. is willing to intervene to save people and banks.
It’s frustrating. I’m trying to do the right thing and not go in over my head and think of the future and the rules are being changed and no one is really playing fair.
Why wouldn’t we have another cycle? What are the reasons that wouldn’t happen. I don’t think we are entitled. I work hard to achieve goals.
Why is it ridiculous to think rich businessmen or foreigners are buying places in San Diego? Irvine company has done that w/apartments and our dollar is so weak compared to the Euro, foreigners can very easily buy places here.
Just scared b/c I don’t want a McMansion. I just want a little place I can call my own and it seems to be so out of reach no matter our hard I try.
If the interest rate is lowered and jumbo loan limit increased and government backing Fannie and Freddie Mac, then why say loose lending is no more. Sounds incredible that they would be so foolish to give money away again, but it almost seems like that’s where they’re heading.
I understand cost of living is going up. I already thought that would impact the economy when in the last several years the price per barrel of oil shot from 50 to $100. And yet, the price of homes continued to rise.
