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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (57848)	7/17/2006 10:51:55 AM
From: John Vosilla	Read Replies (2) \| Respond to of 306849

<<Last week, reports showed that the city's median home price dropped 1% in June from a year earlier, the first decline in a decade. "Homes were more in reach a year ago," Buck said. Prices might have been a bit higher back then, she noted, but interest rates were a whole lot lower.>> Interest rates, taxes and insurance keep going up taking monthly payments up much more than the nominal drop in home prices. Really seems like a no win situation for everybody involved. Yet Bush cronies continue to push the tax cuts on the federal level as being the savior for the economy and Democrats are clueless as to the increased tax burden faced by Joe6pack on a local level..