With low mortgage rates where are the Buyers?
May 23, 2011
With mortgage rates at or near historic lows, where are the Home Buyers? The answer is fairly simple. As this article from the Seattle Times states, people need very clean credit scores along with a highly liquid cash position in order to purchase a home. First time home buyers (usually younger and with less time to accumulate a high liquid cash position) are particularly challenged to enter into the market. With home values still high in this part of the country, it will be interesting to see how our largest employers deal with recruiting top talent into the Puget Sound region.
