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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (285852)	12/31/2008 11:30:56 AM
From: greenspirit	1 Recommendation Respond to of 793955

Why are falling housing prices always portrayed as a negative? Unless you want to sell, falling prices can be a good thing. It means my children and my neighbors children will be more likely to buy a home 10 years from now. The rise in home prices were killing the low to middle class, those who rent, and those who want to stay in the town they grew up in. Home purchases from now on are going to be taken a lot more seriously by millions of people. Flipping homes or expecting huge gains in a couple of years are gone, replaced with those who really want to be home owners. Home owners caught with negative balances, or refinanced to the hilt to pay off credit cards are going to feel the pain. The rest of us are going to benefit. What's interesting to watch, as home values depreciate, rental prices have remained the same or risen in many areas. When rental prices start to decline, that will be the sign the housing market has stabilized and began a recovery.