If you've bought a house, you know just how frustrating the entire process can be. I'm about to start the process all over again on my second home, as my first is currently under contract by- yes, first time buyers like I was when I purchased it four years ago.
Obviously, the ubiquitous negativity (from all media outlets large and small) surrounding the housing slump can definitely thwart the typical first time buyer's motivation. This quite often leads to searching for a rental and 'postponing' home ownership.
Then there's the financing issues derived from the aforementioned 'housing slump', and foreclosure rate, and sub-prime crisis, and failing banks, and- I could keep going and going. If you think about it, we're actually somewhat getting back to the way it used to be: to buy a house, you actually need money!
Lastly (but probably not really the last), there's price and demand in certain areas where first time buyers want to live too. The houses where they need to be, or want to be, or even grew up, have soared in price and demand.
My point is: there are obstacles and always will be. Let's not get too wrapped up in the bad news regarding our economy. Especially if you live or want to live in North Carolina! It's a market still holding strong with homes still gaining value! Remember: THIS IS A CYCLIC OCCURRENCE. The economy rises, the economy falls, and so on and so on. It's not a reason to stop buying, but everyones' standoffish behavior is certainly understandable. We'll get through it!
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