Pam's Prescott Blog

Mortgage rates at their lowest rates....EVER?

Employment numbers UP dramatically for January...

If this isn't enough to tell you that the recession is over and it is time to buy, consider this:

John R Talbot, previously of Goldman Sachs investment banker, is a bestselling author and economic consultant. When it comes to the housing market he is also a prophet. When housing prices started to skyrocket in 2003, he published The Coming Crash in the Housing Market correctly warning us that a real estate bubble was forming. Then in January 2006, he call the absolute peak of home prices in the US by releasing a new book, Sell Now! The End of the Housing Bubble.

Mr. Talbot, the person who accurately predicted the housing bubble and its bust, now has a new prediction – IT IS TIME TO BUY A HOME! In a recent article, Homes – Buy Now! Talbot simply explains:

“I have been waiting for more than five years to offer this advice. It is now time in most cities across the country to buy a new home or refinance your existing home with a thirty year fixed rate mortgage debt.”

He goes on the explain that his conclusion is based on several different metrics, all of which favor buying today:

· Homes Prices Relative to Peak Prices During the Bubble

· Home Prices Relative to Income and Rents

BOTTOM LINE

If the person who called the real estate bubble and its bust says now is the time to buy, we believe it is time to buy!