I have been a licensed real estate broker for over twenty years. First, on the North Shore of Long Island, now in Westchester County, New York. I have seen market downturns, runaway prices and recessions come and go. In every market there are opportunities so, no matter what the newspapers, TV's talking heads say. Now maybe the right time to purchase if you have the down payment you can still purchase the American Dream of owning your own home.
Today article in the Wall Street Journal Housing Starts Plunge 14% describes a market in turmoil. Home construction is at the lowest level in 16 years. Builders are facing mortgage bankers, nervous about lending while construction loan defaults are rising.
After reading the article, remember all these economic factors can work to your benefit. Just maybe this is the right time for you to purchase your dream home thanks to the slump.
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