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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: John McCarthy who wrote (93893)2/6/2009 3:13:08 PM
From: ajtj99  Read Replies (1) of 116555
 
If you haven't bought or sold a house lately, I could see how that might escape you.

Anyone who has seen closing costs on a sheet at the closing knows there is lots of cash that gets subtracted from the closing price on a sale.

Now, as for buying a home only, the closing costs are primarily for the account of the seller. In that respect a buyer who is currently renting could benefit so long as the house doesn't lose $15k in value the next couple of years.

This is really something only current non home owners could really benefit from the way it's structured.
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