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

To: Tradelite who wrote (84395)8/10/2007 10:17:35 AM
From: Think4YourselfRead Replies (2) | Respond to of 306849
 
If you can make that argument in three months, when rates have stabilized and truly desperate sellers (and foreclosures) are flooding the markets, then I would be willing to agree you were right. At this time rates are up on panic but sticky prices haven't adjusted yet.

Willing to bet foreclosure rates on ARM's resetting in the next few months exceed 20%.

Last one to lower their price...gets reamed.



To: Tradelite who wrote (84395)8/10/2007 4:30:20 PM
From: Live2SailRead Replies (1) | Respond to of 306849
 
I will gladly take the trade of buying a house 20% lower even though I have the same payment. Taxes will be lower; insurance will be lower; I can pay down principal faster if I come into money; lastly, rates will have room to fall, and I can refinance.

So bring the prices down rising rates!


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