It appears from recent and not so recent articles, that buying a home in the market today is not for the faint of heart. A recent article from the Wall Street Journal discusses how the Mortgage Banker’s Association’s chief economist believes that the real estate slump will continue through 2009. On October 18th, the San Jose Mercury News reported that new housing construction was at a 14 year low, signally a potential for a further slump. On October 24th, the San Francisco Chronicle reported that nearly 4800 loans on bay area homes will likely be foreclosed on in the next few years due to the subprime loan fiasco. With all this negativity, is there any reason buyers should make a move now? Is there a light at the end of the tunnel?
Absolutely! One need only to look to the preeminent real estate authority (at least in his own mind) whose knowledge and expertise can bring clearity to our real estate market. We need an uplifting word from “The Donald”.
Actually, there are several good reasons for Silicon Valley buyers to make a move now versus later. Please read the following article titled Silicon Valley More Bullish on Buying than Selling writen by Broderick Perkins.