Affordability declines are worrisome, but consistent with strong markets for the past 30 years. More troublesome is the inability to find affordable starter homes.
More Quotes from Glenn Crellin:
There's clearly a wait-and-see attitude. Still, the underlying economics are still strong enough that job holders will get into the market -- interest rates still represent a bargain.Glenn Crellin
The prices are lower than in many parts of the state, even though the incomes are fairly average.
Glenn Crellin
It was a noteworthy decline. But at this point, we can't tell who is leaving the market the first time home buyers, the people trading up. ...
Glenn Crellin
Despite the bad press, the number of home sales during the October through December period was higher than during the last quarter of 2004, but the small year-to-year increase suggests that some slowing of the market is under way.
Glenn Crellin
As a result, we should see a stabilizing in prices to bring them more in line with inflation.
Glenn Crellin
Buyers now don't have to put money down on the first house they see. They can be more selective.
Glenn Crellin
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Based on Topics: Past QuotesWe can't have full knowledge all at once. We must start by believing; then afterwards we may be led on to master the evidence for ourselves.
Thomas Aquinas
They succeed, because they think they can.
Virgil
Moderation of oil prices would be very, very welcome. But overall I think we are in a position of stable growth, sustainable growth, and basically with inflation in check.
John W. Snow