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@ BAP,
I know a loan shark that flat rates..............by the hour. :)
I think there will be another stock market crash to the Dow 7500 level in Fall 2010. I think that will present itself with a great buying opportunity. Lower housing prices and lower interest rates.
klarek
2010 Jul 22, 1:01am
A Big contributor to the coming big downturn in housing prices will be a broad based tax increase with the Bush tax cuts expiring in 2011.
The tax cuts did nothing to spur the economy. That was the housing bubble and trillions of dollars in equity creation. The expiration of the tax cuts will have no meaningful impact.
What DOES have impact is that the tax credit for first time buyers has ended. People are going to be stunned when they see the numbers that reflect the rest of the summer. Couple that with a flood of inventory and foreclosures, and prices will tank.
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Where are the people that said a couple of months ago that the economy was in a V-Shaped recovery? Did they go in hiding once again?
http://money.cnn.com/2010/07/21/news/economy/bernanke_testimony/index.htm
Bendover Bernanke will soon admit that housing is in deep deep trouble. Don't believe that home prices will hold at these levels or will fall 5-10% at most. Bulls**t!!! That's wishful thinking. It's going to fall BIG time within a few months. The 2nd leg down will be nasty. Just look at the graphs and numbers, it's a no brainer!
#housing