All Posts Tagged With: "Home Buyers"

Politicians, Bailouts and Bank-Owned Houses

Around the corner from my former apartment in Newton was a house that was taken in foreclosure. The “For Sale” sign had been there for a very long time, the lawn wasn’t mowed regularly and the shrubs had died in the winter but hadn’t been removed.

Walk around your own neighborhood and see how many houses are for sale. Sometimes the sign openly states that it is bank-owned, other times you might have to search on the county assessors website. There are plenty of bank-owned houses in Iowa; there are many, many more in California, Nevada, Michigan and Illinois.

The point is this: With such a large supply of bank-owned houses, of course houses will continue to fall in price. When a store has excess …


What A Week: Housing

By now you probably know that both Freddie Mac and Fannie Mae have had very poor quarterly reports.  Worse than expected.  And now we’re in for worse trouble.

Money is now expected to be tighter as we roll into the fall and home buying will continue to be slow due to the fact rates will be higher and people will be disinclined to borrow and therefore buy.

Don’t mind the fact that having the media and the industry simply telling the public that it’s bad probably causes a lot more people to sit on their hands.

With home prices as low as they are now, it’s the best time to buy.  The cost of money is already low and continues to be offset by the …


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