Quote Originally Posted by TriMom217 View Post
wow, thanks for the replies ladies. I hadn't even thought of the administration's effect on the housing market. That's more food for thought....
Well, I have no real estate or economics training whatsoever. Here in high priced sunny CA my totally unfounded theory is:

one reason the housing market's tanked is new housing being built driven by the attitude that prices would always rise. So buy build sell turn that joint, what could possibly go wrong?

Well it's cyclical folks, what goes up will come down and vice versa. Nothing will boom forever.

much of the buying and selling above was fueled and financed by these variable rate loans, interest only loans and other smoke and mirrors.

Now a year later these buyers MUST get out of those loans .... and the markets flooded with housing ..... and tanked.

My neighbor for example is selling her home, already bought a new one, her mortgage on this one probably rises monthly and now .... she has two to pay

Now, if I had enough money to buy another place that'd be cool ;-)

As for the political thing not to politicize the board, simply the market hates uncertainty, who will win, who will loose ... and war's rarely good for the economy unless you're making munitions.

But also people hate uncertainty.

We also have thousands of troops whose family can't make plans. I have a coworker in the Army reserves. He's served his entire term in the reserves, then was pulled back in to go to Iraq. He served there for a year and a half and is now back at home and newly married.

But they can't plan to buy a house because he could be called up yet again And he's surely one of many