macintosh

"...Or was everyone just concerned about profits??"

Gross oversimplification but truth there, nonetheless. Lending standards went out the window. Underwriters were given a banker's holiday for two years or so. Generated too much overvalued bad paper.

The market IS correcting...

Steve

Rates and prices are only a part of the picture. The market, in general (to include real estate) is trying to redefine value. Meanwhile available liquidity is well down. We've sucked our bone marrow while driving prices to unrealistic values.

Smart investors with a significant cash position are still on the sidelines. Prices are sufficiently depressed that they've time to read tea-leaves before entering and still reap the harvest...but this market requires some serious reading...

Steve

macintosh,

A lovely time to be an investor unless you believe that mankind shall never recover. Unsold inventories remain quite high generally and money is available at stupidly low rates for qualified buyers.

That's changing a bit on the underwriting end. Don't want to be a builder generally. Remember, it's a big nation. There's always somebody buying, selling, and building.

Steve