On Monday we sent a survey out to you, our Marin Report and Twitter followers, asking What do you think is the main reason that people hesitate to buy a home today? Here’s what you had to say.
Other responses:
| “All of the above. new day, new economy. everyone is stuck.” | |
| “Waiting for the bottom” | |
| “Kid going to college” | |
| “Not ready to take on a 2nd mortgage.” |
Comments:
| “Homes, like castles, are several fold too expensive for most people -even relatively well to do people. My first home cost me $47K, your articles discusses homes which cost 30X as much. Just too expensive relative to income and savings.” Dr. Gordon |
| “The loan modification programs are absolutely not happening. everyone is stuck at their present loan. we need to do a national reset of all mortgages at 4% and to present values. this is the only way to get the housing market moving. all in or all out.” |
| “I think the hesitation is for a number of reasons, prime example is the number of hoops people have to jump through to get a mortgage, in addition to what it takes to qualify and the lack of income on investment is also a problem. Thanks for asking!” |
| “Regarding the condos, I believe their HOA fees are too high and the value is less than the fee. Add to that, the ability of the HOA board to require owners to come up with exorbitant sums to pay for painting or roofing, which should have been covered by the monthly fee all along. Who is getting the money here? And who wants to add on $400-600 extra per month on top of mortgage payments? Needs more transparancy and accountability!” |
| “Bankers, in a rush to beat the new credit card rules have closed credit card accounts or severely lowered available credit on many customers. This has, no doubt, lowered credit scores, making it almost impossible now to qualify for a jumbo loan.” |
| We will discuss these items in future posts. Thanks for taking our POLL. |
Posted by Jack McLaughlin 
