This is one of the most amazing Blue Moon markets I have ever seen.
I've seen low prices with High interest rates. I've seen High prices with low interest rates.
BUT, I have never seen historically low prices Coupled with historically Low interest rates.
Yet I see a malaise. Many have taken this amazing market for granted. I think it is on the verge of going away.
And maybe it should.
Many here in Charlotte have been lulled to sleep that a government kick-back program will never end ($8k tax credit for first timers or the $6.5K move -up) What are the sleepy thinking? This "cry wolf" of a never ending program keeps many on a Vallium holiday. Unfortunately for the sleepy, this teet is going away. Hello?
I can hear the Rip Van Winkles crying on May 1, 2010. Please don't cry to me about your 18 month lack of knowledge. I also see the inevitable that interest rates Will go up.
The end is near. For better or worse, we will see this market transform and become an unsubsidized free market with interest rates reflecting the real market.
To those that missed out. Give it a decade or two. It will come back. Go back to bed. Sorry to wake you.
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