"Don't Listen to Your Realtor"
This is a good article that was posted on Prudentbear.com
Snip...
"In 2006, we are already seeing signs of a slowdown in the housing market. In recent weeks, home loan applications have fallen to a 3 ½ year low. I believe that most everyone who could take advantage of the low interest rates and exotic mortgages have already done so. The continual rise in interest rates will undoubtedly price new home buyers out of the market. Even with an interest only loan or an adjustable rate mortgage, higher interest rates will most clearly mean higher mortgage payments. Given the fact that your average American consumer has negative savings and that the average income is not rising sharply, I see a sharp decline in the demand for new home sales in 2006."
More...
Snip...
"In 2006, we are already seeing signs of a slowdown in the housing market. In recent weeks, home loan applications have fallen to a 3 ½ year low. I believe that most everyone who could take advantage of the low interest rates and exotic mortgages have already done so. The continual rise in interest rates will undoubtedly price new home buyers out of the market. Even with an interest only loan or an adjustable rate mortgage, higher interest rates will most clearly mean higher mortgage payments. Given the fact that your average American consumer has negative savings and that the average income is not rising sharply, I see a sharp decline in the demand for new home sales in 2006."
More...
posted by Little_Silvered at 5:39 PM
1 Comments:
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