Affordable Housing is one the one hand, great if you can get a mortgage and purchase a homes, on the other hand, as the the weak housing market continues to limp along as the job market and economy continues to struggle.
Affordable Housing Markets-Curse or Cure?
The ultimate question is, do you feel comfortable in purchasing in this struggling economy? Do you feel that your job is secure and that you will be able to make those mortgage payments?
Affordable Housing Markets and Foreclosures
As foreclosures continue to reduce values, so does the equity in homes, forcing many homeowners to stay put, walk away from their homes (a continued scary trend) and thus continued decline in home prices.
Have we hit bottom? We won’t know that until the government stops trying to “improve” the situation, and let market forces work its way through.
Affordable Housing Markets and Jobs
The best way to improve market conditions, is for the government to reduce business regulations, lowering of tax rates, to gain some confidence in business planning. Businesses cannot plan for costs, when government keeps adding on new regulations (that cost money) and the threat of increased taxes. Affordable housing will stay affordable, in the short term once job creation starts to grow.