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Jack Asse
Jack Asse

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"We all knew this would happen. No one should be surprised purchase applications have plummeted. The problem is that the government is prolonging the inevitable. What was the true intention of the tax credit? You think it was to help people buy homes? Or so the banks would not lose more money? We can all admit that the tax credit to some extent stabilized home prices, or at least slowed the pace of decline. Instead of values going down 20% year over year, the number was closer to 5% to 10%. When you..."    View Comment
"Home prices will fall another 20%. Even if refi apps are up, that does NOTHING to home prices. There is no real demand for home prices that are still inflated. The only way people buy houses again is for the market to correct ON ITS OWN. This means prices have to go down to levels that are even MORE AFFORDABLE. Just because a home used to sell for 300k and is now going for 200k to 250k does not mean that home is still affordable. Sure, someone can probably afford it. But how many people? The other..."    View Comment
"Rates need to go up between 8% to 10%. Prices need to fall another 20%. People need to be able to save their money and actually be able to afford their home. Prices are still too high. Raising rates will do just the trick. Higher rates will not necessarily kill the real estate market. It will kill refinances, but purchases will still flourish if prices go down as rates go up. There are millions of people underwater right now. Re-inflating the housing bubble will only cause more pain when rates do..."    View Comment
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