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U.S. housing market in bottomless free fall

worldnetdaily.com — Single-family home sales are way down, many homes have negative equity, and foreclosures are all the rage.

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4 Comments

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  • spinningplates2, on 12/31/2008, -0/+2That is not a free fall.
  • iruntherace4him, on 01/05/2009, -0/+0I am going to try to do a new home equity loan with a lower rate to pay off an existing one that has a high interest rate, and shorten the length of time to pay it off. There is always something to do to better ones finances even in today's economy..
  • soofan, on 01/01/2009, -0/+0I agree, it is an adjustment and there are some real bargins out there with the lowest of interest rates. Calm heads need to prevail.
  • carollcc, on 01/01/2009, -0/+0Lower interest rates do little to help a homeowner whose market value is down 1/3 to 1/2. Paying on a $300,00 mortgage which may or may not include a home equity loan payable upon sale, is throwing your money at depreciation, but what is the alternative? Rent? as your IRA has lost a likewise amount. Whoever has money and credit, cheers, but the majority of homeowners are in the above distress caused by greedy R/E broker/agents and their Builder/construction
    cohorts, aided and assisted by appraisers, R/E lawyers, underwriters, title companies, all of whom got their percentage of the inflated purchase price - And don't have to return any of their ill gotten gains. We're not talking subprime mortages. We're talking price control collusion. At least we patsies get the satisfaction of seeing the guilty get their just rewards! God is good!

    Shalom

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