Real Estate Fence Post

Housing Solution: Crashing Home Prices or Cheaper Mortgages?

In Los Angeles and suburban areas home prices are still 10 - 11 times avg earnings. These prices are still sky-high. Speculators took the market price for homes into the statosphere over the last decade, and now they are touting a 20% reduction in price and lower mortgage rate as affordable. Don't make me laugh!!!

We need another 40-45% drop in these overinflated prices.

So far this economic theatre and it's cast of main actors: Fannie Mae, Freddie Mac, Primary Lenders like Countrywide, FED and Treasury have done everything in their power to PUNISH prudent buyers & savers. Their actions have deliberately pumped up home prices and made home affordability nearly impossible over the last decade. This has been a decade of declining affordability and rampant lending of toxic home loans.

Face it, there are only a handful of new home buyers remaining out there and they are aware of the game plan this cabal has set up.
I'm the fence post waiting for the Depressionary crash in home prices.
I've waited 2 decades to afford my own home, I can wait another 2-3 years before I invest my hard saved cash.