Homestead mailing list

["Lisa K.V. Perry" <lisakvperry AT gmail.com>]

On 11/7/06, Gene GeRue <genegerue AT ruralize.com> wrote:
> >We already know the housing market is going bust.(Lynda)
>
> The worst is over. And it didn't go bust, it adjusted to market
> conditions, a very normal and cyclical occurence.


Gene, do you really believe the worst is over?  This surprises me.  I don't
think we're going to have a y2k-burst-housing-bubble problem either, but I
can't imagine the worst is over.  I hope you are correct.  I believe there
are too many variable still in play and too many millions of dollars of ARM
loans that will be reset next year to higher interest rates.  Granted, many
of those people have probably refi'd (I hope), but perhaps some have not.
And what of the contractors who overbuilt in many areas and all the people
in related industries who may lose a job?  While 2007 may be a great year
for Democrats (sorry, delirious from lack of sleep--stayed up late--got up
early listening and watching news), I wonder what is in store for the
economy and for anyone connected with the housing industry in general.  Just
thinking outloud.

Lisa
...in Virginia where we're keeping our fingers crossed, and hope that the
recount goes smoothly....