Real Estate Reality in 2008?
This from a reader but I want to point out that I am NOT a Realtor — yet! But the whole point of this forum — even through the holidays — is to seek the truth about our market. So I welcome ALL comments!
“Yo! Candy… since you are a realtor, you should also point out that all is not rosy.
The numbers you link to do not point out that Dallas is down 0.1% this Oct vs a year ago. Sure, we are up over the year, but we ARE trending down. And, now that people can’t refi and pull money out to pay credit card balances, because their houses are not rising any more, can you say “reality check in ‘08?”
Start practicing.”
2 Comments to “Real Estate Reality in 2008?”
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Ugh! I don’t get why people want to spread crap like this. The reason people can’t refi and pull money out of their homes is because banks realize now they shouldn’t have been giving money to people with the above mentality 3 or 4 years ago. Homes in Dallas appreciate from 3% to 5% on average. So what money are you trying to get out of your home? And why are you spending so much money on your credit cards that you need to get a loan from your real estate to pay them? The reality check is for irresponsible home buyers and spenders. Try putting some money in savings and staying in your home for more than 2 years.
Nicely said, Jeff.