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A new white paper was released yesterday by the Cato Institute which boldly claims that the cause of the housing bubble isn’t what everybody else has been talking about for the past few years. In this policy analysis, Randy O’Toole argues that the blame rests on a regulatory system known as growth management, saying
Some people [...]
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After reading The State of the Nation’s Housing 2009 from the Joint Center for Housing Studies of Harvard University, it became clear to me that much of the rest of the country is already seeing some signs of a housing market turn. More importantly, it made me fully aware of the fact that many learned people are seeing reasons why it should and will be occurring.
But how do you predict the turn of the housing market in Tallahassee? There are so many factors involved that you cannot simply point to any one factor, so I thought I’d summarize why I think I know when the turn will begin.
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The first thing to understand about this tax credit is that you don’t have to pay it back. The U.S. Government is truly giving you $8,000 towards the purchase of your first home (if you want more information about the tax credit, there are special reports in the sidebar on the right that you can download). This means that if you buy a home today and sell it later, it would have to lose more than $8,000 in value for the credit to not be a benefit.
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I’ve been reading a lot of articles online about interest rates and home affordability, so I decided I would take a look at home affordability rates in the Tallahassee real estate market. It’s one thing to keep reading about how rates won’t be this way forever, but how does that translate into affordability for today’s prospective home buyer?
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