Re: US Home Values Bottomed Out?
Washington is doing nothing to solve these problems because they want bad news.* And housing and gas affect all of us so they are partying in the streets.* I live here and see it.* Congress will never take any action as long as they think bad news will cause voters to give them more power.* Get rid of the incumbents in both parties and continue to do that until they respond to voters.* Congress approval rating has fallen from 34% to 9% in the last two years.* It is because we elected a Democratic congress and have a Republican President.* Would be the same if it was reversed.* Nancy Polosi and the current incumbents will do NOTHING to solve ANY problem until after January 2009.* It's all about power.*
So my best guess is that action by DC will occur next January February time frame.* Those actions will start to have an impact by May or June and everything will be grand before the next elections.* Again all about power.* That cycle will happen regardless of who wins in November.*
However those that plan to buy in TV over the next 12 to 18 months should do it soon if at all possible.* Figure out what it will cost you to carry two homes for that amount of time and see if it makes sense to buy before prices head back up.* Buying now could save you as much as 25% of what it will cost you after your home sells.* So if your buying a 250K home in TV and your carrying costs for a year are 25K, you would probably save 25K by doing it now.* Later on that 250K home will be 300K.* Besides that you can at least start enjoying it now and over the longer term you will end up saving money.* TV does have a unique market and because of that it was one of the last places prices dropped and it will be one of the first to recover.* So IMHO now is a really good time to buy and carry two homes for a year.* Remember investment advise 101, buy when things are out of favor, sell when everyone else is buying.* If that is even a little bit true, now is the best time you will ever have to be a Villages owner.*
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Life is to short to drink cheap wine.
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