Spring Forward More Sales

Well the bad news is we still see some foreclosures popping up all over the place. But, the prices are the best they have ever been in many a moon. The news I get from the streets is that agents are busier than they have been in a while. Real estate consultant John Burns reminds us that there has never been a better time to buy a home.

Since we began tracking the data for the major MSAs in 1981, there has never been a better time to buy a home. The median income household needs only 27% of their income (an all-time low) to qualify for the median-priced home, and that household is also only paying 3.3 times their income for the house (3.1 is the all-time low).

He asks if there is ever going to be a time when the moon and stars were so aligned. Sure you have to take a long term view but will interest rates stay this tempting for long? (I will answer that one. Let me recall my econ 101 .ummm print lots of money is inflationary. Slow inflation by raising rates OUCH!)

By the way his newsletter is a must in my email box every week. He offers incite that few are willing to share so openly.

Let Me Give You a High 2 and 1/2

Real estate consultant John Burns applauds the Feds bailout only partially. The federal government has essentially adopted three of our four recommendations to “Unlock the Housing Market,” which puts us on track to have the housing market recover by 2011.  While two years seems like forever, it will be here before you know it.  We have many hurdles to overcome to get there.

The full report is here.john

Burns Consulting Says Real Estate Reaching Very Affordable Levels

Many markets are most affordable in years.