Dream on, the economy is worse than ever and a few new starts just means that
sharing the wealth has made economic recovery impossible. The wealthy are
downsizing into smaller new homes as they fall from prosperity. Right now the
state is looking at combined household incomes on the rise because of more
communal homes with multifamily poverty. Job loss and income losses get covered
up in the misleading household income manipulation figures and means more people
are losing their homes of 5-10 years to the market. Most existing
homes sold are being done at a loss and sellers are at a breakeven equity sell
off to move into communal homes with relatives. The housing market is a
misleading indicator since the buying and selling is trading owners and sellers
not upgrading into bigger homes.Job loss and business closures
spread more poverty than they spread wealth. Box stores are showing signs of
economic stress with declining service, fewer choices and varieties and no
in-stock spares. Corporate debt is eating up profits faster than banks can raise
their daily fees. When banks and business can't sell debt is when they
start closing their doors.
The article stated it was a "sellers" market still. What with low
interest rates, it would seem to be a "buyers" market to me. Lock in a
30 year fixed at 4 or 5 percent. Plus, there should be a lot of veterens
coming into the market now with the wind down in the military. If I'm not
mistaken, they can get No Down mortgages without PMR (mortgage insurance)
requirements. Now is a good time to get into the market if you can.
Ultimately property values will be going up. A house now is a good investment
in the future. Do it if you can. Try to get your credit number up into the
high 600s or better to get the lowest interest rates. Some of them are in the
I look ay how long that job will last. construction is the only industry.
Knowing that there are a lot of bank owned that is off the market. How long will
construction jobs last when that's completed.
If you have been in Utah traffic you know as well as I do, that the last thing
we need is more homes and more people here. We don't want it to be busy
here, but it already is.