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

To: grusum who wrote (235078)	1/5/2010 1:23:34 PM
From: damainman	Read Replies (2) \| Respond to of 306849

"on top of all that lending standards are tightening so that even some people that want to buy, can't." Back in 2005 lending standards were loose, anybody could buy- was that a good time to buy a house? "plus unemployment is likely to stay high" Unemployment was low in 2005, was that a good time to buy a house? "rents will probably go lower." Ok, quite possible but how much lower can rent for a 1500 sq foot house go under a $440/month mortgage payment in the example I gave? Merced is bad, but not Detroit, and probably the cheapest housing for anyone wanting to attend a U.C. college. Edit: I meant to add this too. Buying a house when bankers are willing to lend(stupid bankers), when everybody has a job, when everyone wants more than 1 house , when everyone mainstream has a positive outlook on housing, has proven to be the dumbest thing a person could do imo.