1. JWM: “This will launch a vicious cycle that feeds on it self. As comps get slaughtered, an incresing number of homeowners that might have otherwise weathered the storm will get dragged into this mess.”
Who are you referring to? If they are “weathering the storm”, the what difference do the comps make? It seems like the referral to these type of people on this board categorize them as having affordable mort. and want to live in their house long term.
2. patientlywaiting: “People aren’t going to buy unless they can see substantial appreciation in a 5 year time frame.”
I don’t think this is true. Someone has asked the question before about where the desire to move every 5 years came from. I don’t know, but I people in general don’t need to move every 5 years. Housing should not be a revenue generator, ideals will return to buying a house as a place to live.
