Monday, February 4, 2008

Housing Mess

The housing slump is due in part to sub prime lending. Home owners bought more house than they could afford at high interest rates, no money down, and adjustable rates. Housing prices have sky rocketed and homes in my opinion have been valued more than they are worth. The combination has left home owners unable to remain in their homes as well as not being able to sell them.

1 comment:

L Wilder said...

I agree with the above article that in order to sell your home you must come up with great marketing strategies. No one wants to do this but lowering your asking price might help. After all the housing boom is over and it is a buyers market. Other good marketing strategies in addition to lowering the purchase price would be to give a brand new car, gym memberships and signing bonuses. These are good incentives to buyers.

I wish I had a deal like that when I purchased my home.