In this Xmas Season, a once in a lifetime confluence, in Real Estate, has created a MIRACLE. In normal times, when interest rates are low,house prices usually rise and conversely when interest rates are high home prices must fall to keep homes affordable.
Today because of the housing crisis home prices are down and the Federal Reserve has kept the interest rates low, this is not normal economics. On top of all that the Federal government will give you tax credits. These credits are up to $8000.00 for a first time home buyer, and up to $6500.00 for people who own a home. Together this confluence has created a Real Estate Miracle.
This will all disappear in April 2010. The rebate program will end and interest rates will rise.
If you are even remotely thinking of buying a home--I seriously doubt that this confluence will occur again in your lifetime.
Uncle Fred
I you are interested or have questions, please visit: www.fredsporch.com
Wednesday, December 16, 2009
A Xmas Confluence Creates A Real Estate Miracle
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