If you turn on any news program you are likely to hear nothing but bad news about the housing industry. Ask yourself though, “Why should they report good news when bad news sounds so much better?” The truth is there are still many people looking and able to buy a home and this article will discuss three reasons why this is so.
The first reason why homes are still being sold is the most obvious, people still need a place to live and the American dream of owning a home of their own is as strong today as it ever was. For most people, one of their main goals is to own a home. The desire for a permanent location of their own is so strong that a bad economy and a mortgage crisis has not done anything to change this desire, only made it more difficult to realize.
A second reason that homes are selling is because lenders have been making loans available again. During the housing slump that hit this country as a result of the sub-prime mortgage crisis, lenders were afraid to lend and buyers were afraid to buy. Many people who were being forced to sell could not find a buyer while at the same time many willing buyers could not get financed. Much of the panic is gone from the market but the result is a much more conservative lending policy by the banks. Loans are still being made, but only to buyers who can really afford them.
A third reason that people are still looking for homes to buy is there are many great deals out there too good to pass up. Many marginal investors were flushed out of the market in the past couple of years but the ones who remain have the capital to take advantage of this buyers market to build their inventory of homes for the future.
If all of your information about the current housing market came from the news media alone, you would be inclined to believe that few homes are being bought and sold and the mortgage crisis wiped out the market. The truth is that many people are still willing and able to buy and that as time goes on, more and more people will make the necessary changes in their financial and credit position to join them.
Agents, People Are Still Looking For Homes to Buy
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