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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (51857)	4/24/2004 1:45:24 PM
From: Libbyt	Respond to of 57110

I see the real benefit as having gone to the current homeowners who simply refinanced at the lower rates. I agree with that statement. In California because of Proposition 13, the cost of taxes is IMO a major factor to many before they decide to move. There are probably many who would like to buy a bigger home, or "downsize", but IMO the change in property taxes is a major consideration. IMO there are many types of homeowners. Some view their home as an investment, and others view their home as a place to live. I've always thought of a home as a place to live...not an investment, so the ups and downs in the housing market have never been a major concern to me. I know this would be different if I had a mortgage that was very large, and I was forced to sell the house for a loss, but hopefully I'll never be in that position. Lower interest rates IMO do make it possible for some to qualify as first time buyers....even if that home is a major "fix up" home in this area. There are still a few areas of affordable housing in our area...IMO hard to find, but not impossible.