Quote Originally Posted by elevatethis View Post
If you ask my friends that have finally been able to afford homes in the new, lower market, I'd say its pretty good for them. A lot of real estate people will also admit that the market has been grossly inflated for a long time in many places.
Ofcourse it's good for them. Houses are more affordable now than ever. Like many others have seen, houses are being sold, because mortgages can't be paid, leaving sellers no option but to sell at lower prices. I wish I had bought our new house today rather than two years ago...I could have saved 20,000.

I shudder with the thought of another interest rate cut, it's such a band-aid solution. I truly believe America is in for a wake up call.