http://fromthegroundup.freedomblogging.com/2008/03/28/to-buy-or-not-to-buy/ Fri, 04 Jul 2008 00:49:34 +0000 http://wordpress.org/?v=2.3.3 http://fromthegroundup.freedomblogging.com/2008/03/28/to-buy-or-not-to-buy/#comment-363 Bill Fri, 28 Mar 2008 20:35:48 +0000 http://fromthegroundup.freedomblogging.com/2008/03/28/to-buy-or-not-to-buy/#comment-363 I think we need to settle on what a rebound or a recovery is. This should be when the prices fall back in line with 5%ish annual app recitation, from before the craziness happened. That's where prices should be for affordability. AZ houses should cost what they went for in 2002, plus 5% (actually a generous number) annually for 6 years and that's what your house should be worth. If its going for more that that amount, we are not at the bottom or recovered. I say not recovered because the problem is not people loosing their homes they can't afford, its people who make middle class livings who can't afford a house. That's the real problem. I think we need to settle on what a rebound or a recovery is. This should be when the prices fall back in line with 5%ish annual app recitation, from before the craziness happened. That’s where prices should be for affordability. AZ houses should cost what they went for in 2002, plus 5% (actually a generous number) annually for 6 years and that’s what your house should be worth. If its going for more that that amount, we are not at the bottom or recovered. I say not recovered because the problem is not people loosing their homes they can’t afford, its people who make middle class livings who can’t afford a house. That’s the real problem.

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