He's a genuine real expert, he took a bunch of half truths and DU doom and gloom socialist-onomics to prove some sort of point. These threads are as dumb as the evolution and 100 per barrel oil threads. Facts are.
1. "Prices overall are down". What the writer didn’t say is MOST markets are still appreciating while some seriously overvalued markets like So. Fl, So Ca and some areas of the NE have dropped a bit. What he left out was that sales have actually increased. Let me repeat that. SALES HAVE INCREASED.
2. There has been no systemic, epidemic and widespread foreclosures. The local mullet wrapper the Palm Beach Post takes joy in spreading this lie. Headline PB Post "Foreclosures up 85%". What the local socialists don't tel you is the number of foreclosures went from 1200 to 2400. So going from .03 percent of mortgages held to .035% of mortgages that go into foreclosure is a real crisis. Made those millions yet Carlton Sheets lemmings?
3. Interest rates have not skyrocketed like some of the HOLD GOLD loonies have speculated. In fact rates maybe poised for another drop in the Spring.
4. The S&L crisis was created by changes to the tax laws which instantly created worthless investment portfolios. Look of the facts before some spout some ignorant Democratic clichés.
Someone quoted Dave Ramsey before. I used to like Dave and actually liked some of his common sense principles but Dave's a certified idiot speaking on things he knows little about. Going broke in real estate, being a reformed whore monger and having a down home East Tenn. accent does not make you wise. Waiting around for a 15 year mortgage and 20% down payment and you will living in a rental for 20 years. Any guy who guests on Oprah can't be taken seriously. Cut up your credit cards and use cash but the rest of his Dave-isms ignore them.
Ummm... no. The 9/06 existing home sales SAAR was 5.42 million - 14% off the 06/05 peak.
Strangely enough, when I was making about 2/3 the median household income, I was able to do just that in about five years. And, of course, the banks were horrified that I wanted to put that much money down on the house. It didn't take anything special ... just living within my means and saving a little bit out of every paycheck.