Housing Demand … Will it Ever Come Back?
The demand for housing will never come back with the same unbridled momentum we saw in the years leading up to the collapse — nor do we want to see it return to such frothy levels. Indeed, foreclosures will continue and I feel very confident the contagion will bleed into commercial markets in coming months.If you enjoyed this post, make sure you subscribe to my RSS feed!
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This is the result of cooking the books to give home loans to people who otherwise couldn’t even get a car loan. The lenders and the borrowers are equally to blame. They created the bubble that burst- and who are the true victims?– those of us who could actually qualify for the loan and are still making house payments and homes that are rapidly depreciated due to the crooks and liars who cooked the books.
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I think that in the long run, everything will probably be okay. The government will save us.
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Compare the value of Real Estate in Palo Alto to the DotCom stocks … Real Estate will start ticking back up in the next year or 2 … Anyone think Priceline.com will ever be worth a tenth of its former high?
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Owning a home is not the be all and end all. In fact, for a fair number of people renting is a much better choice. A house can be an albatross that is hard to dispose of. It certainly limits your mobility. The government is making a mistake trying to maximize home ownership with its’ easy money policies.
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