The New Waiting Game
Perhaps unexpectedly, the wait for the pricing nadir has been displaced by a new resolve--the wait for the rate nadir. Despite gobs of government spending and potentially inflationary outlays, rates continue to languish delectably in the low fives, stoked by the Fed's anti-hoarding, er anti-savings tactics. Might a limited time 4.5% purchase rate be in the offing as rumored? The possibility has even pusillanimous purchasers coiled like a ravenous panther.
Me, I'll probably play along, and exchange paper for a hard asset. You know, something with an inglenook, or a sleeping porch, or a whole lot of rosettes.
Labels: Real Estate Rants