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Utah housing market strong
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Bill Turner CPA JD | 1:11 a.m. July 4, 2009
Let's hope for the best and that housing prices will fall in line with
wages and rent so more young inexperienced buyers will not be underwater in a
year or two when the governor and Obama stop subsidizing home builders and the
with stupid tax credits and the prices fall. Hopefully the Fed will come to its
senses soon and raise interest rates up to 8 or 9 percent so people stop getting
themselves in trouble. IT IS STILL A HORRIBLE TIME TO BUY if you aren't
sure you will be in your home for 15 years. Interest rates will fall once the
banks have cushion and start putting money back into the economy. The Feds will
raise rates to finance all the pork, and a large percentage of home buyers will
be way underwater. Rent is historically cheap right now and home prices are
high. The intrinsic value of home ownership didn't change. Most of the
builders need to find new occupations because we have to many of them and too
many homes. Empty homes all over the place. We need proces to fall in line
with wages so people can afford them - WITHOUT subsidies!
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