Housing prices can not be artificially supported. I know I hear
this very day but they need free markets to work themselves out.
With Unemployment still rising, rates rising and credit tightening
how can people afford artificially supported prices. In my area
they built huge 750K/1M dollar homes where salaries can not support
them especially when you need 20% down compared to 5% 2 years
ago....
I don't see how this will help....only prolonging the
inevitable...
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Housing prices can not be
Gross predicts Dow 5,000 September 6, 2002 (CNN/Money) The manager of ...
Posted by dylan398 on 4th of Sep 2008 at 06:13 pm
Housing prices can not be artificially supported. I know I hear this very day but they need free markets to work themselves out. With Unemployment still rising, rates rising and credit tightening how can people afford artificially supported prices. In my area they built huge 750K/1M dollar homes where salaries can not support them especially when you need 20% down compared to 5% 2 years ago....
I don't see how this will help....only prolonging the inevitable...