There are blogs that blame the National Association of Realtors for the run-up in house prices, saying that without their cheer leading of the housing market, prices never would have risen so much. I give people more credit than that--most people can guess that Realtors like houses as much as Steve Jobs likes ipods.
On the other hand, NAR is saying it's the media's fault that the housing market is so lousy now. The media have little to do with it--the housing market is bad because there is excess supply and because credit outside of the conforming prime loan market has gotten relatively expensive. Until inventories begin to fall, it won't matter what either the media or NAR say.
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2 comments:
Excellent point. Its all about supply and demand.
David lindahl scam write a short note secured by a second mortgage on your house or other real estate in the amount of the seller’s equity.
One of the things that a seller thinks about when giving a second mortgage is that he will have to foreclose and would get the property back! The security of your residence may eliminate the seller’s demand for cash, given the greater assurance that he won’t get the property back.
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