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

To: Think4Yourself who wrote (84401)	8/10/2007 10:31:39 AM
From: Tradelite	Read Replies (2) \| Respond to of 306849

I agree that's a pretty neat trick. It doesn't have anything to do with the point I was making several years ago when I made it. House prices correspond to what buyers are able to pay. Right now, they can't pay as much as they could before--credit markets won't allow it. By the way, I think home prices were much lower than now when I made the point in the first place. Delay in purchasing didn't help people if they really wanted and needed a home. Mulholland mentioned the market situation in an area of Atlanta where my own son and his wife have owned a home for almost two years now. They have the home they want. They have a really low-rate 30-yr fixed loan. No ARMS for them. No zero downpayment stuff either. If they're willing to stay in that home for a long time, this whole crisis out there in the world doesn't touch them much.