CBS News reported on the state of Jumbo loans last night. They were explaining the credit crunch in Sub-Prime, Alt-A, and Jumbo loans. Here is a link to their story it will open in a new window.
http://www.cbsnews.com/sections/i_video/main500251.shtml?id=3205112n
What is not included in the story is the editorial comment after this ran. The female newscaster/commentator said that buyers need to wait because prices may drop lower.
That was the most irresponsible comment that I have heard. If everyone waits prices will drop! This is just the basic law of supply and demand.
For a national newscaster to tell people to wait to buy because prices will drop is not instilling confidence in our economy. Employment is up, Interest rates are still low, there is a very good selection of homes to choose from. If you are a buyer now is the time to select the home you want to live in for the next few years.
I just wish that the newscasters would report the news and leave their personal comments out of it.
Please visit my website it will open in a new window.

