Comments on: Tucson Homes – Why are Prices Staying High http://www.tucsonazrealestateblog.com/tucson-real-estate/tucson-homes-why-are-prices-staying-high/ & What it is like living in Tucson Thu, 09 Feb 2012 01:34:28 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Dave Smithhttp://www.tucsonazrealestateblog.com/tucson-real-estate/tucson-homes-why-are-prices-staying-high/comment-page-1/#comment-118 Dave Smith Wed, 24 Oct 2007 05:55:10 +0000 http://www.tucsonazrealestateblog.com/tucson-real-estate/tucson-homes-why-are-prices-staying-high/#comment-118 Keith, The rethinking of the American Dream mean to return to the roots of that dream as outlined in the first quote above. This means instead of the current thinking "My home is an ATM machine" we return, or (rethink) to viewing it as home, security and eventually the burning of the mortgage. Tomorrow I'll be covering more on the high asking prices with a high inventory. There is plenty of money to be loaned and as I was reading today the FHA loan is coming back strong with new revisions which will make it more attractive to buyers as well as sellers. I do want to write on the headline in Sunday's paper on Now Might be the Time to Buy a Home. I'll do that as well before the week is out. But the American Dream of home ownership is very much alive and well and while the focus has been on the subprime market it is still a very small part of the mortgage and real estate industry. Most loans are the traditional loan with 20% or more down with a 30 year fixed rate. Whether it is a good time to buy depends on each individual or family financial circumstances. Keith,

The rethinking of the American Dream mean to return to the roots of that dream as outlined in the first quote above.

This means instead of the current thinking “My home is an ATM machine” we return, or (rethink) to viewing it as home, security and eventually the burning of the mortgage.

Tomorrow I’ll be covering more on the high asking prices with a high inventory.

There is plenty of money to be loaned and as I was reading today the FHA loan is coming back strong with new revisions which will make it more attractive to buyers as well as sellers.

I do want to write on the headline in Sunday’s paper on Now Might be the Time to Buy a Home. I’ll do that as well before the week is out. But the American Dream of home ownership is very much alive and well and while the focus has been on the subprime market it is still a very small part of the mortgage and real estate industry. Most loans are the traditional loan with 20% or more down with a 30 year fixed rate.

Whether it is a good time to buy depends on each individual or family financial circumstances.

]]> By: Keithhttp://www.tucsonazrealestateblog.com/tucson-real-estate/tucson-homes-why-are-prices-staying-high/comment-page-1/#comment-117 Keith Wed, 24 Oct 2007 05:44:23 +0000 http://www.tucsonazrealestateblog.com/tucson-real-estate/tucson-homes-why-are-prices-staying-high/#comment-117 Dave, Maybe you will discuss this further in the next couple posts, but what do you mean by "rethink(ing) the American Dream of home ownership"? As the Daily Star said, and you posted, some buyers can still get loans. If I were to get a loan the old-fashioned way, by putting down 20% and getting a fixed rate 30 year loan, would my personal goal of home ownership be derailed by society's sudden redefinition of what it means to own a home? I don't think you mean that someone who had intended to buy a house (like me) should now rethink doing that. More likely, rethinking the dream means changing how I should go about buying a house. I'm still reading your blog everyday, and if you are going to touch on any of this, then I am anxiously awaiting the next post. Dave,
Maybe you will discuss this further in the next couple posts, but what do you mean by “rethink(ing) the American Dream of home ownership”? As the Daily Star said, and you posted, some buyers can still get loans. If I were to get a loan the old-fashioned way, by putting down 20% and getting a fixed rate 30 year loan, would my personal goal of home ownership be derailed by society’s sudden redefinition of what it means to own a home?
I don’t think you mean that someone who had intended to buy a house (like me) should now rethink doing that. More likely, rethinking the dream means changing how I should go about buying a house.
I’m still reading your blog everyday, and if you are going to touch on any of this, then I am anxiously awaiting the next post.

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