Comments on: Weekly News Round-Up

By: David

David — Thu, 27 Mar 2008 19:03:56 +0000

Rationally priced assets are a good thing.

Elderly homeowners are still likely sitting on a pile of money, and again, your house is not a retirement plan.

Of course homeowners want to maximize their return, but again, anything above a “reasonable” price should be gravy–it’s a recent development that people assumed they could get rich off of the houses they lived in (investing is a different matter).

By: susan.brady

susan.brady — Wed, 26 Mar 2008 23:13:06 +0000

I realize it is good news to buyers and those who are upwardly mobile. But for those who are about to lose their homes, need to sell their homes for more than the mortgage, and even elderly homeowners who need to convert to cash for assisted living, it’s not so good. There are pros and cons to both sides, and from a personal perspective I’d like to see the tumble slow or stop.

By: Parag

Parag — Wed, 26 Mar 2008 21:47:27 +0000

I concur with Red. Dropping home prices is good news for those who want to buy. It is also good news for those who want to sell, have enough equity and are not looking at bubble driven high points as their point of reference.

By: Red

Red — Wed, 26 Mar 2008 17:38:06 +0000

Whats wrong with you? “Local Home Prices Tumble” – this is GOOD news. At least half your audience is home buyers – this makes homes affordable; For Realtors, it means sales, as overpriced homes will no longer sell.
I’m a home owner, and I think this is good. I’m thinking of selling my place and trading up, and lower prices make it easier to afford the brokers fees, loan costs, down payment, and property taxes on the new place.
I’m also a manager at work, and we haven’t been able to hire anyone from outside this area because they can’t afford to live here, and those folks we do hire have horrible commutes because they can’t afford to move closer to work.
Prices got too high in 2003, totally overpriced relative to incomes and rents. Time to return to reality.