petej

Low Interest Rates Fail to Boost Home Sales

Someone who found their dream home, in their price range, in their favourite neighborhood who planned to stay in it for the next 10 years might buy in this market. You're talking about housing speculation which for all intents and purposes is over, its back to basics.

A family of 4 should not day trade on their housing search. Think of it this way, if the value temporarily goes down 100k then your property taxes should drop too. If you're in California you can then reset lower for the future due to Prop 13.


On Dec 03 11:45 AM jackooo wrote:

> Why would you buy a house at 0% interest if it is going to lose $100,000
> over the next year?
> My neighbors house in Ca. is down from the asking price $120,000.