Why It’s A Good Time to Buy a Home

Why It's a Good Time to Buy a HomeI believe there has never been a better time to buy a home. I’ve been in the industry for 28 years as a lawyer and I haven’t seen so many positive signs for housing, whether you are thinking or buying or locking in a mortgage. Click here to view the full article.

 

Mark Weisleder, well-know real estate lawyer and author, says that it’s a great time to buy a home – a very refreshing counterpoint to all the negativity from economists concerned that house prices have increased more quickly than incomes. The reason for the rapid increase of prices, of course, is that mortgage rates are extremely low. The real question is when and how quickly will mortgage rates move up. The world has quite a bit of deleveraging to do over the next several years, and as long as this is going on, it seems unlikely that there will be enough economic growth to put significant upward pressure on interest rates. That said, interest rates aren’t going any lower either, and so the rate of increase of house prices must eventually come into line with the rate of increase of incomes. This would suggest that prices should start to level off over the next year or so, and the balance between buyers and houses for sale should even out – if so, this will be good news indeed.