Tag: negative equity

Law of Unintended Consequences

There are those that would like you to believe that the worst for housing has passed. Stories about depleted inventory, or multi-year lows.

Government programs, first-time home buyer tax credits and gifts to the builders…. heck even our propaganda machine is pushing the idea of getting people to buy a home.

(CBS)   Real estate experts in many parts of the country are saying now’s the time to buy.

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Early Show money maven Ray Martin weighed in on the Saturday Edition about whether buying is indeed the way go to now,

IS THIS A GOOD TIME TO INVEST IN REAL ESTATE?

Yes, it is, and for a number of reasons. For one thing, housing prices are declining just about nationwide. Plus, mortgage rates are at a serious low. Rates on a 30-year, fixed-rate mortgage are at a level we won’t see again in our lifetime. Finally, if you buy before December 1, you’ll get an $8,000 tax credit if you’re a first-time buyer. For all those reasons, there’s really never been a better time to go shopping for real estate.