I stress the word potentially, as with any news involving the economy in this day and age can have some kind of deceptive double meaning. Need I remind you that the unemployment rate is something that is rather going to mislead us all into thinking that we have more people in world, when in reality, it only signifies the fact that people are not really making all that much money.
Still let's see what this news signifies, both from what people are saying and what it could really mean.
Buying a House is More Affordable
Now at first glance, that might seem like good news. Of course, given that there are many more houses that are going up on the market at a reduced value, that might lead to some potential financial headaches in the not so near future. The housing market depending on where you live can be actually okay given the current state of the economy to a horrific disaster.
Location, location, location, that is really what it is all really about. That is just the fact of the matter, the state of the game as it refers to the housing market. So houses may be affordable but when you consider how we got to this point, it really does raise some questions.
On the bright side, or what seems to be the bright side, there are a lot less people who are being delinquent mortgage payments. Of course, people not being able to pay off their mortgage or any debt or really any obligations, is part of the reason why the economy managed to get in the state it is. Banks and other borrowing institutions are cracking down, perhaps a few years too late.
The housing market is one that many do watch closely. But the scary thing is that it has been on shaky ground and this could be the calm before another storm.
