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Moneywise

Area housing sales dip, but optimism and home building up

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  • My2Cents Taylorsville, UT
    April 29, 2014 3:17 a.m.

    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.

  • happy2bhere clearfield, UT
    April 29, 2014 8:19 a.m.

    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 3% territory.

  • george of the jungle goshen, UT
    April 29, 2014 9:15 a.m.

    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.

  • Brahmabull sandy, ut
    April 29, 2014 4:11 p.m.

    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.