I am certain that new homes are still being sold and closed all over the country, just not at a fast enough clip to make a impact.
New home inventory will get a closer look from these buyers when the pre-existing and foreclosure inventory is reduced to acceptable levels,for whatever reason new homes have been second on most home shoppers minds.
When all people hear is 24/7 recession news, stricter lending guidelines and home values falling it is easy to see why consumers are scared right now.
Mr Larson is right if people are worried about becoming unemployed it does not matter what the interest rate is.
Yet on the other side of the spectrum there are still well informed,qualified investors and consumers that are still purchasing. Informed investors are cleaning up and consumers that are buying are saving money if they did their homework.
Informed consumers will always be confident consumers regardless of where they are.
RRG of TX @ Jan 29, 2009 17:11:55 PM
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