People want to buy but often find the financing is a roadblock. Can You Remember Creative Financing? Get out those books!
According to the 2007 National Housing Pulse Survey from October, 59% of Americans think "now is a good time to buy".
Interestingly as I wrote in the December newsletter, I see this in the hundreds of log files of real estate websites. People are consistently coming to realty websites. But, it seems that their willingness to register as a lead is down. ( I believe that can be more than just a market driven thing, but it might be the freely available listings at verticals like Edgio, Trulia and such. Even smaller players like Picky Homes offers real estate listings without registration.)
The Mortgage Reports website has their own theory on why now is a better time to buy than later. It isn't what you think.
It has to do with liquidity. People want to buy, and many are trying to purchase homes. But it seems that the challenge is the availability of money. Rates are terrific, but the willingness to hand out the financing is what is slowing down the train.
So perhaps we need to get refreshed on the fine art of carrybacks, assumptions, and all in between.