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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (84653)	12/16/2011 9:27:09 AM
From: Cogito Ergo Sum	2 Recommendations Respond to of 217544

You know I keep trying to be optimistic .. the problems though are all about how things are run.. and I see nothing terribly encouraging.. a few voices in the wilderness... but not much more... Now I hear Moodys talking of downgrading Ontario ... maybe they read some of my posts comparing Ontario to California :O)

To: TobagoJack who wrote (84653)	12/16/2011 8:06:06 PM
From: Ilaine	3 Recommendations Read Replies (2) \| Respond to of 217544

10 Reasons Why Real Estate Would Not Recover For "Years" Sorry but that article is very silly. Just one factoid ought to make you doubt it entirely: 9. Rising Mortgage Rate. Any appreciation would remove reasons for accommodative Fed and Treasury actions, undoubtedly resulting in a rise in mortgage rates. At this writing, the trend of mortgage rates is on the upside, even with no signs of real estate market recovery. That will serve to keep a lid on any appreciation indefinitely. Wrong. 30 year fixed mortgage rate (the standard rate) is 3.5%, lower than it's been in my lifetime and as far as I know lower than it's been in anybody's lifetime. Right now renting is more expensive than owning, which means that my clients, including those who are upside down on their mortgages, are staying put, if they can. I have started concentrating on mortgage modifications, this is my biggest growth area in practice these days. Locally, several counties are experiencing an increase in housing values, and the rest have stabilized. 10. Cost of Housing. Unrelated to home prices or mortgage rates, the basic cost of housing is expected to increase as State and local municipalities struggle to overcome budget deficits. Where possible, local politicians would not only be raising property taxes but also user fees such as water, sewer, trash or permits of any type. Oh, how silly. If state and local municipalities increase property taxes and fees, landlords must pass these increases on to their tenants, unless it's a renter's market, which it isn't. Thus, it doesn't matter whether you own or you rent, housing becomes more expensive. But if you own, rather than rent, you can deduct the property tax from your income tax.