you can't buy a house if you don't have a job no matter how many rebates, perks, etc Obama gives you.

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Wonder if any of the kook left out in la la land will trade in their private property for Obama's Public Option? I hear its cheaper too.

..........

macrol:

you can't buy a house if you don't have a job no matter how many rebates, perks, etc Obama gives you.

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Collapses is a little strong. Sales are still 22% higher than January lows and prices are going up still. BTW who was still president in January?

I don't quite understand the hand wringing over the drop in NEW home sales. There, of course, is a glut of existing homes on the market. Of course, until that glut is alleviated, new home sales will suffer. It's simple. BTW, it's a funny thing, but my 20-year-old home right now, according to zillow.com is $500 off the level it was at its peak.

macrol:

you can't buy a house if you don't have a job no matter how many rebates, perks, etc Obama gives you.

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Umm, ...

While this may be news to you, it is not to me.

First of all, housing sales always drop during the winter. People just do not like to move when the days are short, the temperture is low, and there is rain and/or snow to deal with.

Second of all, there are still quite a few homes for sale, so the market is still rather flooded.

Third of all, credit is still much tighter than it was a couple of years ago, hence quite a few people cannot get the financing.

Fourth of all, with the recession, many people put off big investments such as homes and cars.

but my 20-year-old home right now, according to zillow.com is $500 off the level it was at its peak.

Thank Your lucky stars you live in Texas

didn't increase to the extent they did elsewhere, in the midst of the housing bubble. So, they didn't have nearly so far to fall. That represents a bit of a 2-edged sword.

That's true. And we'll never reach the heights that some did through speculation because every time someone would get the wild idea, someone else would put up a bunch of ticky-tacky McMansions and slap down the prices again. I'm not only thanking my lucky stars that the prices didn't soar just to plummet much faster, I'm thanking my lucky stars that my credit was bad enough during the "boom" times that I didn't take out a new mortgage and rob what equity I have. As it stands, my house is nearly paid off, probably will be in the next year, and since my hubby will be 70 in May, we'll have something to pay us back for all those lean years....maybe even peace of mind.