- Historic Appreciation is 4% Nationally, but was -4% in 2011
- We were 24% below the trend line
- Current Rate of Depreciation is NOT Sustainable
- Gary Keller - "If you go above or below the trend line, there WILL be a correction."
- This is THE Moment in History that rates are at their lowest
- NY Times called 2009 the "Golden Age" at 5%...Now as low as 3.87%!
- The rates could maybe drop only 1%, if lenders eliminated all profit. Odds of that happening?
- If money is a driver of when you buy...
The Affordability Index
- Affordability Index - percent of income needed to pay mortgage
- Homes have never been more AFFORDABLE in history of recorded time.
- "Why should I buy when prices are down 30%?" Think Price vs Value.
- Timing & Patience seperates Investors from Speculators