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Waiting another year. Raleigh has just begun to join the deflation party and I need to sit on the sidelines for a while longer. Renting a beautiful house for much less than a mortgage on the same house would go, even after the tax deduction.
Thanks. Just more proof that free markets work (prices fall, sales rise) and that Keynesian witchdoctoring is passe and outdated except in the ivory towers.
LOL
Well, there was LITTLE (not so little actually) help from the government in stablizing those home prices.
Yep. That's pretty much what I'm seeing. The smaller, cheaper house is the new IT. Also proof that the 1st homebuyers tax credit is helping boost the market.
Thought this statement was interesting (and I agree with her):
"This pricing scenario seems like a no-brainer argument for extending the first time homebuyer tax credit. Now anyone who reads my blog regularly knows I am not a big fan of government bailouts in the housing market. But if something's working, which this credit clearly is (30 percent of buyers in July were first timers), then we should give it a little more time. "
Well, there was LITTLE (not so little actually) help from the government in stablizing those home prices.
Ken
Not really doing the job. Once the credit expires as it must within 6-12 months, then I'll jump on board about 6 months after that (usual time it takes for someone to get desperate, short sell, or go into foreclosure).
Congratulations! Will you be able to take advantage of the first time homebuyers credit?
thanks-- if they extend it. we are looking at mid Jan as a target.
Our lease is up end of Jan and we do not want to pay penalties for breaking it. We do not see any reason to with the assumption the tax credit will be extended.
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