Comments on: Get The Facts On The National Housing Market http://houstonhousingmarket.org/2008/10/get-the-facts-on-the-nation-housing-market/ A Real Estate and Finance Blog Tue, 13 Apr 2010 21:24:02 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: admin http://houstonhousingmarket.org/2008/10/get-the-facts-on-the-nation-housing-market/comment-page-1/#comment-45 admin Wed, 29 Oct 2008 03:44:54 +0000 http://houstonhousingmarket.org/?p=198#comment-45 I am with you Mark I think rates are going to head back to at least the 8% range in the not to distant future. If I am right about interest rates then that means prices would have to fall more than 10% from were they are now for home buyers to break even on a monthly level. Sounds like even if we are not at the bottom for home prices we are most likely at the bottom when it comes to monthly payments. I think it sure is to bad so many are paralyzed by fear as I think many are going to miss out on the homes in the best shape. It still suprises me how human nature works. Almost no one was afraid to buy when prices were at their peak but now that they have fallen 30% in some parts of the country people are afraid to buy thinking they might over pay. Oh, the irony! I will leave you with one of my favorite quotes "Be afraid when others are greedy and be greedy when others are afraid" - Warren Buffet I am with you Mark I think rates are going to head back to at least the 8% range in the not to distant future. If I am right about interest rates then that means prices would have to fall more than 10% from were they are now for home buyers to break even on a monthly level. Sounds like even if we are not at the bottom for home prices we are most likely at the bottom when it comes to monthly payments.

I think it sure is to bad so many are paralyzed by fear as I think many are going to miss out on the homes in the best shape. It still suprises me how human nature works. Almost no one was afraid to buy when prices were at their peak but now that they have fallen 30% in some parts of the country people are afraid to buy thinking they might over pay. Oh, the irony! I will leave you with one of my favorite quotes “Be afraid when others are greedy and be greedy when others are afraid” – Warren Buffet

]]> By: MARK Z http://houstonhousingmarket.org/2008/10/get-the-facts-on-the-nation-housing-market/comment-page-1/#comment-44 MARK Z Tue, 28 Oct 2008 22:02:34 +0000 http://houstonhousingmarket.org/?p=198#comment-44 Great post James, everything you said is so true my friend. The bottom line is bad news sells papers! Don't get me wrong the real estate market is not good, but if the media wouldn't keep talking about it so much, the public wouldn't be so scared to invest. People are still buying and selling homes. People bought and sold homes in the late 80's when interest rates were 14%. This is a great time to buy with prices at all time lows and interest rates in the low 6's. Wow what an opportunity. Great post James, everything you said is so true my friend. The bottom line is bad news sells papers! Don’t get me wrong the real estate market is not good, but if the media wouldn’t keep talking about it so much, the public wouldn’t be so scared to invest. People are still buying and selling homes. People bought and sold homes in the late 80’s when interest rates were 14%. This is a great time to buy with prices at all time lows and interest rates in the low 6’s. Wow what an opportunity.

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