Where is the Market going? Why are the headlines so bad.

For the many who get their news from the newspaper and tv, headlines often look scary. Doom, Gloom and the sky is falling.

I know the times are tough, but it isn't the Great Depression yet, and probably won't become one either. Keep in mind that the mass media sells disaster easier than good news. They always have and always will.

Here is a link to the Keeping Current Matters blog discussing the reason the NAR Pending Sales figures will decrease. See it here. It isn't a bad analysis  of the situation we face today.

My own experience is I have had 2 sales in the last month CASH! No Virginia, these weren't investors, just normal folks looking for a home. They recognized the market conditions are optimal for a buyer. Prices are low, interest rates paid on their savings are low, so why not buy a home?

If these buyers did not buy cash, interest rates are the lowest I can remember, and I am 64 years old as I write this. I remember thinking 7.5% + 2 points was good, we never expected to see lower. Now 4.5% seems the norm.

What A Time To Buy A Home!