Temecula First time home buyers it’s official the housing crisis is over!

It’s official the housing crisis is OVER for Temecula first time home buyers!

How do I know? I saw it on the internet and all it took was $431 to do it!

The end of the housing crisis has been a topic of discussion since before it really began.
As far back as 2008, the Wall Street journal was predicting an end to the housing crisis. “It is very likely that April 2008 will mark the bottom of the U.S. housing market.”

In September of 2008 (9/11 to be exact) CnnMoney said:
“A handful of economists and analysts predict the slump will bottom out, and home prices will level off by next summer – advice worth listening to.”

In fact according to the former Chief Economist of NAR David Lereah, there wasn’t going to be a bursting of the housing bubble. In 2005 authored a book (while still holding that post) titled: “Why the Real Estate Boom Will Not Bust – and How You Can Profit From It.”.  (Is anyone other than me concerned about the ethics of that?)

In February 2011, the Wall Street Journal, once again, proclaimed: 2011 may be the end of the housing crash

Need more evidence the media has no clue? Watch this video:

The latest group to take a stab at it? Capital Economics. How did Capital Economics arrive at their conclusion? “Banks loosen credit standards. Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.”

The national media (the kings/queens of disconnect) picked this up and ran with it at full speed. In fact there are no fewer than 10 newspapers who ran “breaking news” on the subject.

REALLY? On a $200,000 FHA loan that’s a difference in qualifying income of only $431 a month, I’m sure if we as lenders knew it would be that easy, we would have done it years ago.

Interested in the real state of the Temecula real estate market? Click here