Housing Bubble, Interest Rates, Timber Costs; What Has Changed?
What has really changed in the housing market with regards to timber dumping from Canada, lumber costs since the Professional Building Magazine issue in Sept. 2001. How is this affecting the housing market or the predicted housing bubble burst which was suppose to cripple the economy. We have seen the Federal Reserve raise rates, lumber prices go up, still America was buying up new homes and joining the ownership society faster than at any other time in the history of our nation. Unfortunately the ease to buy a house was truly too easy judging by the current foreclosure rates and one might wish to ask why should young couples with only two to five percent down be buying a home anyway? That is not fiscally responsible. These buyers will be upside down in these homes in some markets almost as before the ink is dry. In other markets they will be growing equity extremely fast as long as their local market holds out, but when things change; there will be more over all foreclosures. And they
