Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: SilasSan who wrote (12499)	6/23/2003 11:00:31 PM
From: George Burdell	Read Replies (1) of 13094

It's not just the down payment, as lenders will bend over backwards to sell you a first, second and third mortgage to finance your home purchase with a down payment of $1.37 and a coupon from your Sunday paper. No one buys a 'modest' house anymore. Every real estate site has a 'how much can I afford' calculator (ie how much will the bank finance) so buyers plug in their numbers and then go out and buy a house for the limit of their credit. Plug two or three percent higher rates into that calculator and that same buyer can only get financing for a $30 thousand cheaper house. If (when) rates go up, today's lower income prospective homebuyers can't afford a bottom rung house and middle class buyers will look for a $200,000 house instead of a $250,000 house. Of course, 95% of the houses will be the same houses, and that's where deflationary pressure will come in. As far as the building industry goes, new higher end construction will decline although entry level and multi-family housing may stay strong. Gotta house the growing population somewhere.

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