Comments on: Housing Market Bottoming Out?

By: Maureen

Maureen — Wed, 08 Apr 2009 03:23:56 +0000

I disagree with you….I don’t see the housing market bottoming this year, next year or even in 2011. You are neglecting to take into account low consumer confidence, job uncertainty, and most importantly the slew of houses that are in the pipeline for foreclosure and the glut of Alt-A and Adjustable ARM mortgages that are just beginning to reset and will peak in 2010 through 2011. This next wave of foreclosures is predicted to be much worse than the sub-prime debacle, and these are prime loans that are going to be going into default which will have a much worse impact on our economy. If there are any improvements seen at the end of this year, they will be short-lived. Now is not the time to purchase unless you want to be extremely upside down in your home.

By: bstone

bstone — Fri, 20 Feb 2009 16:26:47 +0000

so when are the banks going to let people start buying homes again – isn’t that a lot of the problem. that’s what i hear on the news, but wonder what’s really happening in everyone’s situation

By: Sinclair

Sinclair — Fri, 20 Feb 2009 03:04:07 +0000

Part of the problem is that we are set up to only prosper as a country when people are spending. Since we create nothing here to sell to other countries, we have nothing to keep our economy moving except food/fast food, and consumer goods FROM OTHER COUNTRIES to be purchased by Americans. Sadly, I do not see the bottom in sight by any means…