Is a bubble that is re-inflating.
We have not learned a thing. People are hoping for high house values so they can borrow against their houses (again). RE agents get more $ for the higher priced homes as well.
Whatever happened to the joy of paying your mortgage off early? Of using THAT money for your toys or savings?
I firmly believe the housing rebound is short lived. Locally the DAK and Invista situations may hurt housing. There are still houses in the foreclosure pipeline and with unemployment ending next week for hundreds of thousands of NC residents I believe foreclosures may increase again.
"Money" should not be fast and easy to get. Substantial down payments should be required. Nor should banks encourage reckless borrowing.
But the underlying fact remains - by taking out DAKs payroll out of the economy this area will get hurt. The same holds true for unemployment benefits....
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