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Why Are Americans Suddenly Souring on Buying a Home?

from Wolf Street:

Americans are an optimistic bunch when it comes to homes. Even in April 2006, at the peak of the prior housing bubble, with prices at insanity levels but with sales stalling as the market transitioned to its epic bust, and when everyone was trying to sell, even then 52% of Americans thought it was “a good time to buy a home.” That was the moment of peak pessimism in the history of Gallup’s data series. And it was truly a terrible time to buy a home.

Peak optimism was in April 2003, when 81% thought it was a good time to buy. They were right. The Fed had kicked off the housing bubble. The second most optimistic moment, after a long climb up from peak pessimism in 2006, was in April last year when 74% thought it was a good time to buy. And they too were right. But now the honeymoon appears to be over.

Read More @ Wolfstreet.com

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1 comment to Why Are Americans Suddenly Souring on Buying a Home?

  • anon

    “Why Are Americans Suddenly Souring on Buying a Home?”

    Um, maybe because they don’t want to be PERPETUAL DEBT-SLAVES to any specific employer (who, btw has no loyalty to his/her employees) in a low-wage economy, with NO JOB SECURITY, and no health or other benefits (pension?), that has them running on a DEBT-SLAVE hamster-wheel of two (or even three) jobs just to pay a mortgage? That would be my guess. You’re better off renting, or even better yet, living with a relative who will give you a break on the EXORBITANT RENT or MORTGAGE payment you would otherwise pay, keeping you on that proverbial hamster wheel, until the day you die. BTW, maybe MERS has something to do with it, too, since the Banksters re-packaged and sold many Americans’ mortgages so many times, in financial (leverage) instruments, that it could no longer be determined who actually owned the house or property! But, hey, I’m just guessing.

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