Originally posted by: Vic
3 years??Originally posted by: dmcowen674
Oh OK, December lasts for 3 years, what planet did I land on with that kind of rotation?
2003 was the best year for the housing/builder/construction/real estate/mortgage industries on record EVER. Before that the best year was 2002, and before that the best year was 2001. I don't know what planet you live on either, but if you're implying that the housing industry has been down for the past 3 years, then you sure as hell don't live on earth.
Sure 2003 ended a little soft -- there was good deal of uncertainty regarding rates. But mortgage applications are already way up since the 1st of the year.
The bottom has hardly dropped out of the housing market. There was just a little welcomed shake-up that got rid of a lot of the dead weight. Otherwise, rates are still great, buyers are still eager and motivated, and my loans process much quicker than they did during the "boom" last year.
No one is arguing that they aren't building houses like mad. The banks are giving away money to Developers. Where are all these "Eager" buyers you speak of? If they existed there wouldn't be half empty subdivisions.