“Should a young hard-working couple saving up their pennies to buy their first home . . . “
That young hardworking should be happier if their home appreciates in value over 10 years.
Not 25% per year which is unrealistic, but 5-7% which is a good thing.
Homeownership is a good thing.
Again I just don’t get the doom and gloomers that just can’t wait to see a train wreck.
The truth is that the market has already corrected. Home prices have corrected in the bubble areas.
No new sub prime loans are being made now.
People who did 100% financing in bubble areas have already lost money.
The market has worked, we just need to need keep something stupid from happening
What if they can't afford it in the first place, because the government has manipulated the market to keep prices artificially high for the benefit of existing owners?
Again I just don’t get the doom and gloomers that just can’t wait to see a train wreck.
Yes, some do want to see a "train wreck." Liberals in particular want another reason to trash the President, and find excuses to justify more socialist programs.
However, most objective observers just want to see reasonable prices again. You'd have to be crazy to buy at today's valuations; they are way out of line with incomes and rents.
If prices do fall dramatically, it will create new opportunities that just don't exist in today's market.
Two stupids don't make a smart.