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I hate to say it, but with the way the real estate business is right now it makes me glad I don’t own. Granted, there are many advantages to being a homeowner, and right now is a buyers market, but if I wanted to refinance or sell I would be screwed.
My old man is in the process of building a new house, I asked him his thoughts and he said “This is the last place place I’m gonna live, I’m never selling and it will always go up in value.” He is right. Real estate and land will always go up, but the common gentile needs to be able to afford it and I think that is one of the problems this country is seeing right now. Everything is too extravigant. Look at interest rates on credit cards, I saw on the news that the average interest rate is almost 20%, that’s crazy. That’s also why I don’t use credit cards anymore, more and more there getting people into trouble. The defaults aren’t helping society. That drives the interest rate up for everyone no matter how good your credit is.
The Feds need to lower interest rates more. There are too many other factors coming into play that are messing with the economy, like……A BARREL OF OIL NEAR $100 AND GAS PRICES!!! Taxes need to be lowered to get more money moving in our economy. We need some new politicians with balls!!! I hate to say it, but the Democrats think they can do better I say give em a shot…..cause right now they couldn’t to any worse than what we got.
I think the housing market is just beginning to see a crash. It has had to happen for years, and the automobile market will be next. It has all gotten way out of hand. The prices of house and autos has grown much more quickly than the average rate of pay. Sooner or later all things inflated have to burst.
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