NAR Chief Economist Lawrence Yun discusses existing home sales: Listen now
Exisitng Home sales have rising in the last 6 months, even with out the home buyer tax credits, The bargain basement prices are in most cases to good to pass up. Another reason is that apartment rents have been increasing as well. Also sales of home priced over a 1 Million or more are outpacing the sales of homes at lower price points.
Some concerns going forward, the economy is not a straightforward path. Because of oil prices, gasoline, etc….are making everyone concerned, Because of this, the spring boom or spring buying season in the economy leading into the summer months is not expected to be as good as originally anticipated.
Remember, what worked in the past is not longer an option. FreddieMae and FannieMae abused their trust with the American people, they thought they were private Wall Street firms instead of a government industry. They were building a huge hedge fund, instead of doing what they were set up for and designed to do in the first place.
Although I tend to lean towards the conservative side of politics, I believe there needs to be some oversight in some cases. The problem with government site is they always take it to the extreme. Instead of creating a committee to oversee that entity, they end up creating a committee to oversee the committee, and so on
Most Americans would like to have a fair mortgage system. Lets hope that we can eventually get to that. There is a need for government backing for simple mortgages like those that most middle class homeowners require. We encourage you to please share your comments and opinion on this matter below.
Remember, I listen to these local, state and national podcast so you don’t have to!
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