Credit Crisis

I know the feeling well. Staring at the ceiling wee hours of the morning. But after the third house its a piece of cake.

Keep your spirits up manic.
Buying a home is a gamble, especially in todays market. you are betting that your job and health hold out long enough to pay for it.
however, the feeling of getting up on a saturday morning and walking out into YOUR yard, taking a deep breath and a sip of coffee, and knowing "this is mine, and no one can take it away." is worth every penny.

here in nevada, foreclosures are at a record high as well as the rest of the nation. and even though there seems to be more homes than people who can afford them, the builders continue their breakneck pace.
since i make the decorative fireplaces and over the top columns etc for these high dollar homes, I worry that someday building will slow down and i will have no work.
on the other hand, I hate growth.

I think that the silver lining to this housing glut is that eventually, the varied banks that wont finance people with modest incomes will have to make a choice: get stuck with a city full of homes that they have foreclosed on and cant sell, or lower their rates, and give the average guy a break.

eventually housing prices will fall through the floor.
bad news for owners with intent on selling for a profit, good news for new buyers, or those willing to sell their home and use that as a down on something they never would have dreamed of owning before.

But than again what do I know, I live in a trailer turned house.