irondoor91

Setting a New High Mark for the Next Housing Bubble

Arnold, this sounds good in a market where everyone is closely watching home prices, rents, mortgage rates, the ever-changing qualifying requirements, down payments, etc. But, they don't. What you fail to take into account is the overall cost of home ownership which includes taxes, maintenance, etc. Also, the cost of commuting from that house in the suburbs is significantly higher with $4.00 gasoline. I agree that the allure of owning one's own home is strong enough to encourage many of those renters who qualify now vs three years ago when prices were much higher. But, they may have learned a thing or two about the direction of home prices. There is no assurance that prices will not continue to fall and fail to even begin to recover until 2014 or later.