LOOK AT THESE HEADLINES:
housing crash news from patrick.net
Pierce the Housing Bubble! (nytimes.com)
House Prices May Drop Another 25% (theatlantic.com)
Another Record Low for Housing (economix.blogs.nytimes.com)
Burning Down the House; New House Sales Consensus 330K, Actual 276K, Record Low (Mish)
Rosenberg Explains Why Not One New House Priced Over $750,000 Sold In July (zerohedge.com)
Housing market continues to decline (csmonitor.com)
Lack of Jobs, Foreclosures May Keep U.S. Housing Depressed (bloomberg.com)
New Foreclosure Numbers Reverse MBA Survey’s “Bright Spots” (cnbc.com)
Experts Say Housing No Longer Builds Wealth (irvinehousingblog.com)
An unsupportable American dream (nationalpost.com)
The Housing Bubble: The Economists Should Have Known (newgeography.com)
After Housing Bubble, the Dark Side of Houseowner Dreams (time.com)
Treasury Admits Program for Struggling Houseowners Just a Ploy to Enrich Big Banks (alternet.org)
The Fed’s Monetary Insanity (atimes.com)Great Firewall of China Blocks Posting To Patrick.net (patrick.net)
Commercial Property Owners Choose to Default (online.wsj.com)
I thought I would try and give the “glass half full” side to all of this gloom and doom journalism, and try and illustrate some positive reasons to delve into the housing market this fall.
The first and most obvious reason just so happens to be that mortgage rates are at record lows. You can find sub-5% Fixed Rate Mortgages with almost any broker. That means that your rate of insurance will never change over the life of your loan—and 4.75% is a great rate! More later…
