NEW YORK — The good news for sellers: Your house will sell. The bad? Only if the price is just right.
That could mean biting down hard and slashing tens of thousands from your ideal listing price if you’re serious about selling. And you should be prepared to get even less than that.
Notice what’s not being talked about here: actually deflating the bubble, and returning homes to a price where Americans can actually afford them.
via Seeking Alpha.
But what that means is, if we as a nation start saying that renting is a fine and legitimate choice—which, incidentally, would be the first time we did so since Herbert Hoover became Commerce Secretary in 1921—then we’d also implicitly be saying that more people are going to live in apartments.
via TIME.com.
12%: The increase in the cost of renting one’s home since April 2006 when home prices peaked.
via WSJ.
The latest stunt from the Obama Administration on the housing front is a peculiar bit of theatrics at the margin. As Bloomberg reports:
The Obama administration will offer $1 billion in zero-interest loans to help homeowners who’ve lost income avoid foreclosure as part of $3 billion in additional aid targeting economically distressed areas.
via « naked capitalism.
The point is that the banks ARE insolvent and unless American taxpayers collectively (i.e. via the government), take on a load more debt to pay them for their stupidity; at some point someone is going to find out.
Outside of the government handing out $50,000 tax credits there is little anyone can do to reverse the relentless grind of reality.
This is the reality of a bubble:
via Seeking Alpha.
Shedding billions of dollars, Wisconsin property values last year fell 3.1% – their largest drop in at least a half century without accounting for inflation.
Homeowners in the state still fared better than those nation
via JSOnline.
Have you ever considered buying a home strictly for use as a rental property? If you haven’t, this may be a good time to start.
Consider this
In all likelihood, it will be a good investment for your future, but there are some things to think about
