Nation's housing market goes off the cliff

Full story: TwinCities.com
Home prices in many parts of the country scream bargain, and mortgage rates haven't been this low for decades. Full Story

Since: Apr 08

Osceola, WI

#1 Aug 25, 2010
Wait for it, I bet another "tax credit" is coming. Anyone want to take me up on that one?

If the feds had left there mits off, the market would have stabilized by now. But the two infusions of taxpayer cash still haven't shown any results other than making the after stimulus crashes larger.

Face it, the housing market is overpriced and until it gets back to historical pricing with respect to income versus price ratio.

The last reason, and the most important one, people DO NOT feel confident in the economy, and the future with the proposed tax increases and the boondoggle of socialist health care coming down the pike.
gdpcon

Plymouth, MN

#3 Aug 25, 2010
This mornings Drudge Report - Biden:'We're moving in the right direction.' This administration is clueless. They don't have any idea of how to create jobs and fix the economy. Oh, that's right, that's not their objective. They're interested in growing government and transfering wealth. Working great so far!
gdpcon

Plymouth, MN

#4 Aug 25, 2010
It was a simple fix wrote:
Wait for it, I bet another "tax credit" is coming. Anyone want to take me up on that one?
If the feds had left there mits off, the market would have stabilized by now. But the two infusions of taxpayer cash still haven't shown any results other than making the after stimulus crashes larger.
Face it, the housing market is overpriced and until it gets back to historical pricing with respect to income versus price ratio.
The last reason, and the most important one, people DO NOT feel confident in the economy, and the future with the proposed tax increases and the boondoggle of socialist health care coming down the pike.
There's more than a tax credit coming. They're already bailing out Fannie and Freddie at the cost of $1 billion per week and they're working on legislation to make underwater Fannie, Freddie and FHA borrowers whole; all at the taxpayers expense.

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