Donald
Trump posted a blog about the current housing market. I thought
I would share it here and see what the community thought about his
point of view.
From Donald Trump's blog:
It’s hardly a surprise but in the midst of today’s terrible economy
and the nation’s housing crisis, the majority of Americans say they
don’t plan to buy a home anytime soon.
In fact, more than a quarter of homeowners worry that their home
will lose value over the next couple of years, and one in seven
mortgage holders are afraid that they won’t be able to make their
monthly payments in time over the next six months.
People are worried that housing prices will continue to fall which
is good news if you want to buy but obviously terrible if you have a
house to sell.
In addition, we have record-high foreclosure rates
and an estimated 9 million homeowners actually owe more on their homes
than they are actually worth. If you’re in that situation, the best
thing you can do is to sit tight if you can and try to weather out the
storm.
If you’re one of the fortunate few who is looking to buy, you could
hardly be in a better position. Shop around, find a house and make an
offer. Chances are, any good deal will get accepted and if you have
decent credit you should be able to get financing.
I think the housing market is going to get better and it’s going to
get better fairly quickly. The market is depressed and that’s when you
want to go in. So if you have the money, now’s when you want to go out
and buy.
But that’s just my opinion. After all, what does Donald Trump know about real estate!