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


To: Giordano Bruno who wrote (124875)5/22/2008 9:30:52 PM
From: Jim McMannisRead Replies (1) | Respond to of 306849
 
Why It's a Bad Time to Buy a House: High 'Real' Mortgage

finance.yahoo.com

The government reported Thursday that home prices fell 3.1% in the first quarter, the worst quarterly drop on record.

As bad as that sounds, the housing market is going to get worse, says Liz Ann Sonders, chief investment strategist at Charles Schwab & Co.

Because home prices are depreciating, the "real" mortgage rate for homebuyers is about 15%, Sonders says.