April 2009 Archives

April 30, 2009

First-Time Homebuying Buzz Going Strong

It seems like every media outlet in the country is now talking about the opportunity that low home prices create for first-time buyers.

On KQED radio this morning, I heard a report on how military families in Southern California are able to afford homes for the first time in about a decade -- and getting mortgages cheaper than their rent.

USA TODAY tells us, in an article by Stephanie Armour, that first-time buyers are finding bargains and helping to perk up home sales.

And CBS news reports that Florida buyers interested in waterfront property are flocking to foreclosure boat tours!

With all this news coverage, these hints of a trend could turn into a self-fulfilling prophecy. People will see that others are buying homes and figure they'd better not wait any longer until prices rise, causing more people to get into the market, causing prices to rise, and so forth. I'm just watching, not advising...