ANOTHER WAY TO LOOK AT IT.
This from MSN real estate:
Another reason for optimism (keeping in mind that expectations are somewhat lower this year): For many, the ongoing market correction will make the dream of buying a home a reality.
"In so many of these markets, housing became extremely unaffordable," says David Stiff, chief economist at financial data processor Fiserv Lending Solutions, who expects average U.S. home prices to appreciate only 0.1% overall in 2007. "Prices moving back in line with household income sets the stage for price appreciation in the future."
In other words, the home value adjustment will make home buying more affordable for many, many more families.
Another reason for optimism (keeping in mind that expectations are somewhat lower this year): For many, the ongoing market correction will make the dream of buying a home a reality.
"In so many of these markets, housing became extremely unaffordable," says David Stiff, chief economist at financial data processor Fiserv Lending Solutions, who expects average U.S. home prices to appreciate only 0.1% overall in 2007. "Prices moving back in line with household income sets the stage for price appreciation in the future."
In other words, the home value adjustment will make home buying more affordable for many, many more families.
posted by John and Flo Martin at 6:38 AM
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