Home Prices Decline More than Expected

“Glen Kellman: No matter how many cereal boxes people want to buy, there will always be more boxes in the back room. So any chance of price appreciation for the next, probably five years, is gone.”

When we pulled our offer, (which was the 4th for those who are counting), last spring, the uneasiness – or actually shear fear that overwhelmed us each night, lifted. Besides the fact we would have needed ALL of our savings to get into that house, leaving $0 in the bank for the inevitable emergency, there were all of these future variables that would influence whether we could get out of the house with any profit, once it was time to sell.

Heard another story on APM Marketplace yesterday that adds to the growing list of considerations on whether to keep mobile or nail down our location with a 30 year loan.

Here’s the link to the story.