The first time home buyer credit is about to expire, unfortunatly I am sure congress will extend it. If congress does let it die a natural death the net result will be a huge drop in demand for homes.
With winter coming up, which is a historically slow time in the housing market, combined with the tax credit ending I think we will see the real estate market worsen.
In Michigan, the prices have fallen back to affordable levels, the problem is that everyone is losing their job so no one can really afford what is a very great price.
Lets hope the government stays out of the mess and let the free market work its magic....I can still dream right?
Wednesday, October 28, 2009
Posted by Chris at 7:42 PM