Mortgage rates are so inkin low and the people ere not to buy. BEEEcause the houses are so expensive they still can't afford to get one. That is good. the not getting a house they can't afford to begin with.
I was surprised back in 1996 when I found out that I could have gotten a loan for a 125,000.00 no down payment, 1700 square foot house, and the payments would have been a reasonable 900.00 a month. In fact when I asked the banker at the time; what are the payments, I couldn't afford it, they about 1200 a month? I was making only 32,000 plus a year. The Banker said he could get me a loan. I got a little paranoid like there was something up. Well there was something up only on a humongous scale. One that; even though I did not know it at the time, but was predicting an economic crash because of lying, cheating, stealing, and hiding the truths that I was running into so much every day, was the detonator to the economic implosion device. The mortgage melt down.