The Upcoming Housing Boom

I bought my house in 2004 and had to suck up to a 6.25% mortgage because I nailed the a temporary peak - Timing is everything.

The amazing thing is I could refinance if I wanted to. Although with my mortgage being paid off in 12 years, I don't think it's worth paying the appraisal fee.

I do find it fascinating at how right Greenspan was when he told people that an adjustable rate mortgage makes sense for many people. The press was outrage. And they lashed out at him as he raised interests rates.

But maybe Greenspan understood what I told you folks back in the beginning of the year. John Doe consumer , especially after the revised bankruptcy laws is a far better credit risk than any business a bank could loan it's money to.

We are see how the shifting of the bank perspective on who is a better credit risk is flooding the supply of money available for the consumer to borrow.

Rates are dropping, not rising.

What is even more fascinating by this, is the refusal for the media to acknowledge the drop in mortgage rates. Your average person believes mortgage rates are climbing and that the time to buy a house has pass. The truth is it is now easier than ever to qualify for a mortgage and they are cheap.

SO WHAT HAPPENS WHEN RATES ARE AT A TWELVE MONTH LOW? The day is coming.