Spacious apartments!
Did you ever see “Pottersville” from “It’s a wonderful life?
Quite simple. To make a loan payment, you need a job. To make a large loan payment, you need a good paying job. If the number of jobs, especially good paying jobs is declining, stagnant or growing - then the number of potential buyers will do likewise.
With Obama unchained, the number of jobs will, I predict, decline or stagnate. Same with the housing market.
Of course, that will not be true of every area, but nationally, and this is what my current crystal ball says, that will be the trend.
No worries, comrade! Soon the people will own the real property.
‘Due in part to an improving labor market” Really? Where? This administration seems quite content with a stagnant labor market and GDP below 2%. If they are concerned they have no plans to improve them.
Teh fact that the wealthy are able to purchase homes larger than they need, on the backs of the oppressed workers, is a good indication of how the housing market will go. Such a condition goes against social justice and basic fairness.
Add in Agenda 21 and the need to keep the population within urban areas and you see the whole picture.
“The most glaring absence during the hard-fought campaign between President Barack Obama and Mitt Romney was any offer of substance regarding the housing market.”
There was not much substance offered on *any* subject, except the firing of Big Bird. For example, why didn’t the GOP beat the commies senseless over the lack of a congressional budget for the past three years? Something is ROTTEN in DC, and 48% of the voters know it.
Well, let’s review....FHA is about to beg for more money; Fannie Mae and Freddie Mac are crippled by corruption; the major banks are holding a huge inventory of foreclosed loans - hoping to avoid a huge loss (good luck with that) that would be the result of dumping all of these homes on the market at once; unemployment remains high, and; businesses are issuing pink slips by the wagon load.
Sounds like a firm foundation for a housing boom to me!!
Maybe this guy would understand the “housing market” if he spoke of it in terms of being part of the economy, instead of treating it as if it is some isolated non-related sector.
Housing would sovle itself, it the economy would recover, which would only happen with LESS government and not more.
New Section 8 tenants moving in next-door to your $870,000 McMansion
Obama could give free houses away with cellphones, and first in line to sign up get a lifetime free supply of condoms.
Housing market? We’ve got a housing market? Who knew?
The government is financing foreclosures for people who lost their homes due to foreclosure.
Last year, our beloved Justice department started looking into CRIMINAL sanctions against bank heads who did not give out enough loans to minorities. (Before it was just money they'd lose, and the banks jumped so hard we all lost trillions. When it is the FReedom on the line, they'll jump even harder!!!)
It took 5 years for the bubble to grow and burst. Look for 2016 to this one to come crashing down once again.
Be prepared, Scouts!
1. Interest rates will temporarily hit below 3%, but interest rates will rise by end of year as the prime rate rises.
2. Unemployment will continue to be a problem such that banks no longer want to see a job but a job over six months duration.
3. Younger people will continue to not buy homes and live with parents or live together, decreasing demand.
4. Smaller, less expensive homes near office centers will be offered, forcing the current housing market to continue to see less demand.
5. Gas prices will continue to stay above $3/gallon, also creating demand for homes closer to work centers, decreasing demand on many subdivisions and rural areas. Apartments and condo will continue to see increasing demand.
6. Baby Boomers will continue to retire at a rate of 10,000 per day. Many were counting on higher home prices to fund their retirement. They will not see that investment pay off, forcing rural and expensive homes to continue to stagnate in price.
7. Banks by end of year will be hurting for business and will relax mortgage standards, however, Obama and his fellow Communists will create regulations to steer those relaxed standards into minority urban areas and out of suburban and rural areas.
8. Soviet style block buildings will become popular as they are cheap and offer an alternative to living with parents or others. Expect this idea to start within the end of year. It has been mentioned before.
9. The ObamaCare tax of 3.8% on the selling of a home will be extended to all home purchases and not just for “rich white racists”. This will kill housing sales as it places people 3.8% further under water and increases home prices by 3.8%. If a mortgage is $100k and the sale is $100k, that won’t do. The house sale must be for 3.8% more, $103.8k, to pay the tax and the mortgage loan.
10. Unemployment will continue to be a problem and curtail housing sales. Unemployment is at least 14% for primary income earners so housing sales will lag by that 14%.